Beginning in 2016, Bertelsmann takes its business to the next level with a new Group structure: eight corporate divisions, distributed to the business mainstays of Media, Services, and Education; and four investment funds with global holdings in promising start-ups. This broad-based business and geographic diversification optimally positioned Bertelsmann to put its corporate strategy into action. The Group’s core businesses of television, books, magazines, music and services were strengthened step by step, digitalization advanced, defined growth businesses systematically expanded, and growth regions further developed. Bertelsmann increasingly relied on alliances and partnerships: In the content business, in ad sales, and in tech, forces were joined both internally and externally to better withstand the global competition. Above all, this enables Bertelsmann to counter the major U.S. tech corporations with strong offerings of its own, such as digital advertising technology and its own streaming services. One strategic milestone is the acquisition of full ownership of Penguin Random House, the world’s largest trade-publishing group, which Bertelsmann completed in 2020 after several intermediate steps.