NEW YORK -- German media giant Bertelsmann AG on Tuesday announced a major reorganization of its online commerce assets, putting its online bookstore bol.com back into its book club division.
Bertelsmann said it was modeling the online bookstore restructure on BeMusic, the world's largest music distributor, which already combines online and catalog sales. The move -- meant to help cut costs and bolster customer traffic -- comes after the privately owned Bertelsmann scrubbed plans late last year to float bol.com on the stock market as a separate company. Launched in 1999, bol.com is Europe's No. 2 online bookstore behind U.S.-based Amazon.com but has struggled to make a profit.