German media group Bertelsmann and the family behind Vogue publisher Condé Nast are to invest in innovative media and technology companies, as they look to diversify away from their traditional markets.
According to a company statement, German media conglomerate Bertelsmann, controlled by the Mohn family, will spend up to €1.3 billion ($1.45 billion) a year until 2020 on acquisitions aimed at accelerating its shift to digital video and online education.
