UPDATE 1-Bertelsmann sticks to revised 2008 targets

FRANKFURT, Nov 11 (Reuters) - Bertelsmann [BERT.UL]. Europe's largest media group, stuck to its revised 2008 targets on Tuesday after posting stable nine-month sales and higher net income. Bertelsmann, which owns European broadcaster RTL Group AUDK.LU, said revenue in January to September declined by 0.7 percent to 11.4 billion euros ($14.70 billion). Earnings before interest and taxes (EBIT) before special items fell to 926 million euros from 1 billion a year earlier. Net income in the first nine months rose to 387 million from 132 million, when Bertelsmann had to digest litigation costs in connection with a lawsuit over Internet music company Napster. "In view of the subdued economic outlook, operating EBIT will come in 5 to 10 percent lower year-on-year, while EBIT and consolidated net income are expected to rise... [read full story]