German media conglomerate Bertelsmann posted a first-quarter operating profit of €129 million in a 2 per cent rise on profit last year.
The world's fourth-largest media group said it booked a restructuring charge of €30 million in the first quarter at Sony BMG, the product of a merger last year with a unit of Japanese electronics giant Sony.
However, the company said the full consolidation of its French TV broadcaster M6 boosted earnings before interest and tax by €25 million in the quarter.
The French unit, which Bertelsmann owns through its TV broadcaster RTL Group, has been fully consolidated since February 2004 when Suez Lyonnaise des Eaux sold its stake, making RTL the controlling shareholder.
Revenues were almost flat at €3.8 billion in the seasonally weak first quarter, but rose 1.5 per cent once adjusted for currency and portfolio effects, Bertelsmann said.