Bertelsmann's Mohn family to take cut in dividend

The family that controls Bertelsmann, Europe's largest media conglomerate, has agreed to take an income cut of as much as 40% to ensure that the company remains in private ownership. The Mohn family and its charitable foundation have decided to take a dividend of £70m-£104m this year, compared with the £115m they received last year, to assist the group's efforts to repay the £3.1bn debt it has taken on to buy out its only outside investor, Groupe Bruxelles Lambert.(Via Companies news – Media and internet – FT.com)