Bertelsmann Sets Up Separate Unit for Education

German media giant Bertelsmann is moving its growing education activities into a new business unit with a medium-term revenue target of 1 billion euros ($1.1 billion), up from $200 million this year.

The new unit will be run like a separate company, alongside its BMG music business.

"In this way we create the best possible conditions for further growth - both organically and through further acquisitions," said Kay Krafft, who has run Bertelsmann's education activities since 2014 and will run the unit.