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
The bookselling chain saw sales in 2022 top those in the pre-pandemic period, but CEO James Daunt says there is still much more work to be done. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-02-10 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#bookselling chain
Barnes & Noble was on the verge of disappearing, like Border's and Waldenbooks. Under new management it's turning around, and that's good news for readers. Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-02-01 13:00:52 UTC ]
More news stories like this | News stories tagged with:
#putting books
#barnes noble
After years of store closings, Barnes & Noble is making a comeback with 30 new stores planned for 2023—and a new image. Branded is a weekly column devoted to the intersection of marketing, business, design, and culture.Read Full Story Continue reading at Fast Company
[ Fast Company | 2023-01-13 04:30:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#stores planned
The bookstore chain has announced the first-ever BookTok Festival will be held at its flagship store in New York City's Union Square on February 4. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-01-05 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#flagship store
#union square
#bookstore chain
Competition from Amazon seems to have ended as Barnes & Noble plans to open more stores in 2023 as part of a real estate expansion wave. Continue reading at Book Riot
[ Book Riot | 2022-12-22 16:50:46 UTC ]
More news stories like this |
Revisiting a now quaint conflict about Barnes & Noble displacing indie booksellers in New York. Continue reading at Slate
[ Slate | 2022-12-20 08:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#bad guy
In addition to their top book of the year, Barnes and Noble booksellers also selected a winner for a new award for speculative fiction. Continue reading at Book Riot
[ Book Riot | 2022-11-11 15:00:02 UTC ]
More news stories like this | News stories tagged with:
#top book
#speculative fiction
Barnes & Noble is currently holding a huge Buy One, Get One 50% Off sale applied to hundreds of titles, both in store and online. Continue reading at Book Riot
[ Book Riot | 2022-10-13 17:01:37 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
Barnes & Noble has released their list of the best books of 2022. The list includes everything from memoirs to dystopian novels. Continue reading at Book Riot
[ Book Riot | 2022-10-10 14:26:02 UTC ]
More news stories like this | News stories tagged with:
#list includes
#barnes noble
Writers sounded the alarm after learning Barnes & Noble stores would only be stocking hardcovers with proven sales records. Here's more on what this means. Continue reading at Book Riot
[ Book Riot | 2022-08-19 15:26:28 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
The annual Barnes & Noble sale is underway and offering 50% off some of the most popular books this year. Continue reading at Book Riot
[ Book Riot | 2022-08-12 16:55:39 UTC ]
More news stories like this | News stories tagged with:
#popular books
Ranging from middle grade fantasy to adult literary fiction and romance, here are Barnes & Noble's top 10 books of 2022 so far. Continue reading at Book Riot
[ Book Riot | 2022-06-07 13:23:38 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#literary fiction
Barnes & Noble has revealed its latest Nook e-reader, a more budget-friendly version of the Nook GlowLight 4 it announced in December. The Nook Glowlight 4e costs $30 less than the previous model but, as you might expect, there are some tradeoffs.The e-readers share a similar design, with... Continue reading at Engadget
[ Engadget | 2022-05-25 14:19:54 UTC ]
More news stories like this | News stories tagged with:
#previous model
#physical buttons
#turning pages
#single charge
#base kindle
#worth checking
A Virginia lawyer and state delegate has filed a restraining order against Barnes & Noble for carrying GENDER QUEER. Continue reading at Book Riot
[ Book Riot | 2022-05-19 11:23:55 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#virginia beach
#gender queer
#restraining order
The Barnes & Noble preorder sale applied to print books, ebooks, and audiobooks. Here are some big name titles coming out soon to preorder now. Continue reading at Book Riot
[ Book Riot | 2022-04-20 19:56:32 UTC ]
More news stories like this | News stories tagged with:
#print books
#titles coming
To independent booksellers, the enormous chain was once a threat. Now it’s vital to their survival. And it’s doing well. Continue reading at The New York Times
[ The New York Times | 2022-04-15 09:00:20 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#independent booksellers
Barnes & Noble finally has a direct answer to Amazon's purchase of Audible. The bookseller has launched a B&N Audiobooks service in the US that lets you either buy recordings or pay $15 per month for a subscription that offers one recurring monthly credit. You'll have access to more than... Continue reading at Engadget
[ Engadget | 2022-04-07 16:21:47 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#audiobook service
#e-book
#bookshop
#bookseller
#audiobook
After seeing growth last year, B&N CEO James Daunt says the trajectory has changed for America's largest bricks-and-mortar bookseller. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-04 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
Approximately one year after Barnes & Noble CEO James Daunt tapped Emily Meehan to reinvent the retailer’s publishing operation, Meehan has unveiled a new name for the company and a host of new initiatives. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-01-07 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishing operation
Barnes & Noble names their Book of the Year and a Speculative Book of the Year. Continue reading at Book Riot
[ Book Riot | 2021-11-18 14:57:13 UTC ]
More news stories like this | News stories tagged with:
#book of the year