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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[ PC World | 2012-01-23 00:00:00 UTC ]
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[ Knowledge@Wharton | 2012-01-21 00:00:00 UTC ]
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[ Publishers Weekly | 2012-01-20 00:00:00 UTC ]
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[ Folio Magazine | 2012-01-20 00:00:00 UTC ]
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[ The Bookseller | 2012-01-20 00:00:00 UTC ]
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[ The Bookseller | 2012-01-19 00:00:00 UTC ]
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[ The Bookseller | 2012-01-16 00:00:00 UTC ]
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[ The Bookseller | 2012-01-13 00:00:00 UTC ]
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[ The Bookseller | 2012-01-13 00:00:00 UTC ]
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[ AdWeek | 2012-01-11 00:00:00 UTC ]
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[ The Bookseller | 2012-01-05 00:00:00 UTC ]
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[ The Bookseller | 2012-01-04 00:00:00 UTC ]
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[ The New York Times | 2011-12-25 00:00:00 UTC ]
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[ Folio Magazine | 2011-12-22 00:00:00 UTC ]
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[ The Bookseller | 2011-12-20 00:00:00 UTC ]
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[ The Bookseller | 2011-12-19 00:00:00 UTC ]
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[ AdWeek | 2011-12-19 00:00:00 UTC ]
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[ Media Week | 2011-12-16 00:00:00 UTC ]
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