B&N, Microsoft team up for digital biz

Barnes & Noble Inc. and Microsoft Corp. are teaming up to create a new Barnes & Noble subsidiary that will house the digital and college businesses of the bookseller and include a Nook application for Windows 8.The companies said Monday that they are exploring separating those businesses entirely. That could mean a stock offering, sale, or other deal could happen.The deal gives Barnes & Noble ammunition to fend off shareholders who have agitated for a sale of the Nook business or the whole company. For Microsoft, it represents a move into the ebook business, which has been targeted by Amazon.com, Apple Inc. and Google Inc."Our complementary assets will accelerate e-reading innovation across a broad range of Windows devices, enabling people to not just read stories, but to be part of them. We're on the cusp of a revolution in reading," Andy Lees, president at Microsoft, said in a statement.The partnership with Microsoft will see the Redmond, Wash., company make a $300 million investment in the subsidiary for an approximately 17.6% stake. Barnes & Noble will own about 82.4% of the subsidiary, which has yet to be officially named.The companies said that the subsidiary will have an ongoing relationship with Barnes & Noble's retail stores, but what that relationship will be is unclear.Barnes & Noble, based in New York, currently runs 691 bookstores in 50 states. A representative for the company could not be immediately reached for comment.The... Continue reading at 'Crains New York'

[ Crains New York | 2012-04-30 00:00:00 UTC ]
News tagged with: #ebook readers #increasingly popular #paperback books #important parts #rapid growth #nook app

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[ The Washington Post | 2021-12-23 08:51:35 UTC ]
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[ The Bookseller | 2021-12-15 14:10:52 UTC ]
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Springer Nature teams up with Egyptian Government on 'landmark' deal

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[ The Bookseller | 2021-12-14 10:56:21 UTC ]
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[ Los Angeles Times | 2021-12-13 14:00:39 UTC ]
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[ Publishers Weekly | 2021-12-13 05:00:00 UTC ]
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Why Criteo is purchasing the best-kept secret in digital media for $380 million

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[ Digiday | 2021-12-10 10:02:00 UTC ]
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[ The Bookseller | 2021-10-27 04:55:59 UTC ]
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[ Publishers Weekly | 2021-10-22 04:00:00 UTC ]
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[ Advertising Age | 2021-10-07 19:30:00 UTC ]
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