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Bertelsmann issues loss warning

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Bertelsmann issues loss warning

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German media group Bertelsmann has said a continued slump in advertising markets means it may suffer a net loss this year.

It posted a 30 percent fall in operating profit for the first six months of the year and warned plans to slash 900 million euros in costs this year may not be enough. The first-half net loss was 333 million euros due to the decline in advertiser and consumer spending.