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Walt Disney Co. stormed into the city a few years ago, launching big Broadway productions, hosting parades and parking itself in the heart of Times Square with the kind of fanfare befitting an American media giant.
But while Disney moved into town with razzmatazz, another outsider has joined the ranks of local media titans in a much quieter way.
German-owned Bertelsmann has built a publishing and entertainment empire in the city through a series of acquisitions, culminating in the company's stunning bid to buy Random House. Along with the growth has come an increasing focus on the city, which is its headquarters for the United States, Bertelsmann's largest and fastest-growing market.
"We have a long-term commitment to New York," says Peter Olson, head of Bantam Doubleday Dell, Bertelsmann's U.S. book publishing arm. "We want to feel we are part of the community."
Indeed, Bertelsmann, with its three huge divisions--including Bantam, BMG Entertainment and Gruner + Jahr USA Publishing, in which it holds a majority stake--has become an integral part of the city. The company is a purveyor of American culture, distributing such varied products as Sean "Puffy" Combs and Elvis Presley records, John Grisham novels and Family Circle magazine. It employs close to 3,000 workers in the city, a number that will expand to nearly 5,000 if the Random House acquisition is approved by the Federal Trade Commission.
Furthering its role in the city, Bertelsmann spends about $1 million annually on community service projects in the five boroughs, mainly literacy...