Bertelsmann to increase sales to 20 billion euros in 3-4 years: paper

FRANKFURT (Reuters) - Bertelsmann aims to increase its sales to 20 billion euros ($27 billion) by 2016 or 2017, Chief Executive Thomas Rabe told managers of the German media group, the newspaper Handelsblatt reported.

Rabe also announced that Bertelsmann will launch a unit dubbed Business Information that will supply companies with specialized digital information, Handelsblatt reported in a pre-release of its Monday edition.

Bertelsmann was not immediately available for comment on Rabe's remarks at the meeting, which was held in California's Silicon Valley.

The privately held co-owner of publisher Penguin Random House and broadcaster RTL Group has said in the past that it expects revenues of 18 billion euros in 2014 and 17 billion euros in 2013.

($1 = 0.7302 euros)

(Reporting Harro ten Wolde; Writing by Arno Schuetze; Editing by Anthony Barker)

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