Barnes & Noble has a buyer—who agreed to pay the $476 million price tag

Beleaguered bookseller Barnes & Noble Inc. has a buyer. Elliott Management Corp. agreed to purchase the chain for $6.50 per share in an all-cash transaction valued about $476 million, plus the assumption of debt, the company said in a statement Friday. Barnes & Noble shares rose as much as 11 percent to $6.61 on Friday. They had surged 30 percent on Thursday on news that Elliott was close to a deal. Elliott, run by the billionaire Paul Singer, has experience in the book business. It acquired Waterstones, a U.K. book retailer, last year. James Daunt, chief executive officer of Waterstones, will also become CEO of Barnes & Noble. Elliott will keep the chains operating independently but the brands will “share a common CEO and benefit from the sharing of best practice between the companies.” Including debt, the deal is valued at $683 million, according to the companies. It’ll be funded by a $700 million asset-based revolving credit facility from Wells Fargo Bank and Bank of America, as well as a $125 million first-in, last-out credit facility backed by a Carlyle Group credit unit, a Pathlight Capital fund and Wells Fargo, according to regulatory filings. The deal also includes a $30 million breakup fee, the filings show. Barnes & Noble, with more than 600 stores, has tried strategies such as offering food and coffee and selling non-book merchandise, but has failed to stem the onslaught of Amazon.com Inc. Along the way, it’s weathered self-inflicted... Continue reading at 'Advertising Age'

[ Advertising Age | 2019-06-07 16:16:58 UTC ]
News tagged with: #retail chains #$476 million #$683 million #bloomberg intelligence #—bloomberg news

Other Publishing stories related to: ' Barnes & Noble has a buyer—who agreed to pay the $476 million price tag '


Barnes & Noble has a buyer—who agreed to pay the $476 million price tag

Beleaguered bookseller Barnes & Noble Inc. has a buyer. Elliott Management Corp. agreed to purchase the chain for $6.50 per share in an all-cash transaction valued about $476 million, plus the assumption of debt, the company said in a statement Friday. Barnes & Noble shares rose as... Continue reading at Advertising Age

[ Advertising Age | 2019-06-07 16:16:58 UTC ]
More news stories like this | News stories tagged with: #retail chains #$476 million #$683 million #bloomberg intelligence #—bloomberg news


Apple agrees to pay up to $400 million in ebooks price-fixing case

Apple has reached a settlement in a long-standing case that accused the company of fixing the price on ebooks, with the company paying up to $400 million, depending on the outcome of its appeal in the case, a law firm has announced. Apple would pay the $400 million in the class-action lawsuit if... Continue reading at PC World

[ PC World | 2014-07-16 00:00:00 UTC ]
More news stories like this | News stories tagged with: #$400 million #law firm #class-action lawsuit


E-book price-fixing: three publishers agree to pay $69 million to consumers

Hachette Book Group, HarperCollins, and Simon & Schuster say they will pay consumers to settle claims they conspired to fix ebook prices. Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2012-08-31 00:00:00 UTC ]
More news stories like this | News stories tagged with: #publishers agree #simon schuster #settle claims


U.K. Investment Group Acquires Barnes & Noble for $683 Million

It's a new--wait for it--chapter for bookseller Barnes & Noble, which will be acquired by U.K. investment firm Elliott Advisors in an all-cash deal worth $683 million. Barnes & Noble joins a portfolio that also includes U.K. bookseller Waterstones, which Elliott acquired in June 2018.... Continue reading at AdWeek

[ AdWeek | 2019-06-07 20:03:20 UTC ]
More news stories like this | News stories tagged with: #$683 million #bookseller waterstones #operate independently


Elliott Management Agrees to Buy Barnes & Noble, Daunt to Run Both B&N and Waterstones

Elliott will pay some US$476 million for Barnes & Noble, having last year bought the UK's main chain Waterstones. James Daunt is to run both companies. The post Elliott Management Agrees to Buy Barnes & Noble, Daunt to Run Both B&N and Waterstones appeared first on Publishing... Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2019-06-07 12:22:03 UTC ]
More news stories like this | News stories tagged with: #james daunt #$476 million #barnes noble #year bought


Barnes & Noble fires its CEO Parneros without severance pay

Barnes & Noble has fired CEO Demos Parneros for violating company policies and said he'll exit the post without severance.A spokeswoman declined to say why he'd been terminated. It was "not due to any disagreement with the company regarding its financial reporting, policies or practices or... Continue reading at Advertising Age

[ Advertising Age | 2018-07-04 00:00:00 UTC ]
More news stories like this | News stories tagged with: #barnes noble #spokeswoman declined #financial reporting #potential fraud #statement tuesday #book seller


Spotify agrees to pay millions for unmatched royalties

Spotify has come an agreement with NMPA (National Music Publishers Association) over unpaid royalties for music on the streaming service that didn't have copyright owner information. According to The Verge, the company will pay $21 million. Continue reading at Engadget

[ Engadget | 2016-03-18 00:00:00 UTC ]
More news stories like this | News stories tagged with: #streaming service


Apple loses appeal on ebook price-fixing case, will pay $450 million

An appeals court upheld a lower-court ruling that Apple violated antitrust laws to upset Amazon's control of the ebook market.  Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2015-07-01 00:00:00 UTC ]
More news stories like this | News stories tagged with: #ebook market


Apple DID conspire to inflate ebook prices, must pay $450 million

On the same day that Apple Music launched, Apple received some bad news from the 2nd U.S. Circuit Court of Appeals. In a 2 to 1 vote, judges ruled that the company did conspire with publishers to inflate the prices of ebooks sold through iBookstore, agreeing with a 2013 ruling. The judges found... Continue reading at Betanews

[ Betanews | 2015-06-30 00:00:00 UTC ]
More news stories like this | News stories tagged with: #bad news #circuit court #ebooks sold


Apple To Pay $450 Million In Settlement For Price Fixing E-Books

A federal appeals court stood by a 2013 decision that found the tech giant guilty of fixing ebook prices with publishers.Apple's last-ditch attempt to avoid paying $450 million to ebook buyers was just quashed, according to the Wall Street Journal. The Second U.S. Circuit Court of Appeals in... Continue reading at Fast Company

[ Fast Company | 2015-06-30 00:00:00 UTC ]
More news stories like this | News stories tagged with: #last-ditch attempt #ebook buyers #circuit court


Apple to pay $450 million in ebook price-fixing suit

Apple conspired with publishers to artificially raise the price of ebooks, the Second US Circuit Court of Appeals in Manhattan ruled today, upholding a verdict from 2013. Now that the company has lost its appeal, Apple is expected to pay $450 millio... Continue reading at Engadget

[ Engadget | 2015-06-30 00:00:00 UTC ]
More news stories like this | News stories tagged with: #apple conspired #circuit court


Apple agrees to a $400-million settlement over ebook price fixing

Apple Inc. has agreed to pay $400 million to settle allegations that the company conspired with publishers to raise ebook prices. Continue reading at Los Angeles Times

[ Los Angeles Times | 2014-07-17 00:00:00 UTC ]
More news stories like this | News stories tagged with: #apple agrees #company conspired


Apple agrees to pay $450m settlement in ebook price fixing case

iPad manufacturer to pay damages contingent upon appeals court ruling over whether it conspired with publishers to fix pricesApple has agreed to pay $450m (£262.7m) in the US to settle claims the iPad manufacturer conspired with five major publishers to fix ebook prices.It came ahead of damages... Continue reading at The Guardian

[ The Guardian | 2014-07-16 00:00:00 UTC ]
More news stories like this | News stories tagged with: #apple agrees #settle claims #damages trial #harper collins #simon schuster #ebook purchasers


Barnes and Noble posts $119 million loss in Q4 2013, will partner with third party on future Nook tablets

Barnes and Noble has not had an easy go of it. The brick-and-mortar stalwart has seen its revenues and profits steeply decline as we've entered the age of the ebook. In fact, profits haven't just shrunk; they've disappeared. During the fourth quarter of fiscal year 2013, the company suffered a... Continue reading at Engadget

[ Engadget | 2013-06-25 00:00:00 UTC ]
More news stories like this | News stories tagged with: #bad news #blockbuster titles #fifty shades #hunger games #nook line #foreseeable future


Barnes & Noble drops Nook prices, eyes Mother's Day sales boost

Barnes & Noble knows it's not winning the tablet race by any margin, but the book retailer is hoping for a big boost for Mother's Day.     Continue reading at Los Angeles Times

[ Los Angeles Times | 2013-05-07 00:00:00 UTC ]
More news stories like this | News stories tagged with: #barnes noble #book retailer #big boost


Pearson to Invest $89.5 Million in Barnes & Noble's Nook Media

Publishing and education company Pearson PLC agreed to invest $89.5 million for a 5 percent stake in Barnes & Noble Inc.'s digital-business unit, Nook Media LLC. Continue reading at AllThingsD

[ AllThingsD | 2012-12-29 00:00:00 UTC ]
More news stories like this | News stories tagged with: #barnes noble #nook media


Barnes & Noble reports Q2 2013 earnings: digital content sales up 38%, Nook unit rakes $160 million

Barnes & Noble's Nook unit didn't have its greatest quarter. The $160 million in revenue the new Microsoft-backed spin off raked in was slightly better than last year's $152 million, but still a significant drop from $220 million. In a sign of the growing ubiquity of e-readers however,... Continue reading at Engadget

[ Engadget | 2012-11-29 00:00:00 UTC ]
More news stories like this | News stories tagged with: #losing money #bottom line #time period #black friday #cyber monday


Microsoft Invests $300 Million in Upcoming Barnes & Noble Subsidiary

After announcing plans to possibly spin off its NOOK business in January, Barnes & Noble enters into a partnership with Microsoft. The tech company invested $300 million in the new subsidiary (currently under the working title NewCo), a post-money valuation of $1.7 billion, equating to a... Continue reading at Folio Magazine

[ Folio Magazine | 2012-05-01 00:00:00 UTC ]
More news stories like this | News stories tagged with: #announcing plans #nook business


News Corp agreed to pay Bruce Lehrmann $295,000 to settle defamation claim, court documents reveal

Payment revealed after ABC agreed to pay him $150,000 and remove Facebook video of Brittany Higgins and Grace Tame speech at National Press ClubGet our morning and afternoon news emails,free app or daily news podcastNews Corp agreed to pay Bruce Lehrmann $295,000 to drop a defamation suit he... Continue reading at The Guardian

[ The Guardian | 2023-12-06 12:10:09 UTC ]
More news stories like this | News stories tagged with: #brittany higgins #free app #defamation suit #parliament house #documents filed #federal court #legal costs #out-of-court settlement #news corp


This is the Best Book of the Year, According to Barnes & Noble

Barnes and Noble has announced their Book of the Year for 2023 — plus the inaugural winner of their Author of the Year award. Continue reading at Book Riot

[ Book Riot | 2023-11-13 15:03:30 UTC ]
More news stories like this | News stories tagged with: #barnes noble #inaugural winner #book of the year