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 ]
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Randon Billings Noble discusses her path to essay writing, current reading life, the anthology editing process, and what's next in her career. The post Witch + Spy = Essayist: The Millions Interviews Randon Billings Noble appeared first on The Millions. Continue reading at The Millions
[ The Millions | 2021-11-17 11:00:36 UTC ]
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8 books, ranging from memoir to pizza czar, history for young readers and lyrics by legends, are the finalists for B&N's Book of the Year. Continue reading at Book Riot
[ Book Riot | 2021-10-28 12:00:00 UTC ]
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Social media firm announces deal after long-running battle with national and regional newspapers France has hailed a victory in its long-running quest for fairer action from tech companies after Facebook reached an agreement with a group of national and regional newspapers to pay for content... Continue reading at The Guardian
[ The Guardian | 2021-10-21 14:21:02 UTC ]
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Here are Barnes & Nobel's Top Books of 2021. Their top 10 is really a top 11 and we can't blame them. Continue reading at Book Riot
[ Book Riot | 2021-10-14 13:56:34 UTC ]
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James Daunt has hailed a rise in sales at American bookseller Barnes & Noble following changes he introduced after being appointed as its c.e.o. in 2019. Continue reading at The Bookseller
[ The Bookseller | 2021-08-27 02:05:18 UTC ]
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Elliott Management, which acquired Barnes & Noble in September 2019, has reached an agreement to buy the stationery retailer Paper Source. B&N CEO James Daunt will add oversight of Paper Source to his responsibilities. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-05-12 04:00:00 UTC ]
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With a new publisher at the helm, B&N plans to reinvent Sterling Publishing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-05-07 04:00:00 UTC ]
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Earlier today, I told someone there was a new Barnes and Noble NOOK. Their response? They had no idea Barnes and Noble was still putting out NOOK devices! Yeah, I can understand that thinking, as who in the heck even buys a NOOK nowadays? I mean, look, hardcore readers usually opt for an e-ink... Continue reading at Betanews
[ Betanews | 2021-03-19 17:52:47 UTC ]
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Barnes & Noble has launched a new 10-inch Nook tablet that it has designed in collaboration with Lenovo. Continue reading at Engadget
[ Engadget | 2021-03-19 13:00:11 UTC ]
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The Nook tablet isn't dead -- Barnes & Noble and Lenovo are collaborating on a new device. Continue reading at Engadget
[ Engadget | 2021-03-19 01:52:50 UTC ]
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News Corp is the largest media company to sign agreement with Facebook since laws passed by Scott Morrison’s governmentRupert Murdoch’s News Corp says a landmark three-year agreement with Facebook to pay for its Australian content will transform the terms of trade for journalism.Facebook has... Continue reading at The Guardian
[ The Guardian | 2021-03-15 23:55:55 UTC ]
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Newspaper publisher Tribune has agreed to be sold to Alden Global Capital, a hedge fund known for cutting costs and eliminating newsroom jobs, in a deal valued at $630 billion Continue reading at ABC News
[ ABC News | 2021-02-17 00:40:46 UTC ]
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The bookseller has hired Emily Meehan as publisher and chief creative officer of Sterling Publishing in what it called part of a relaunch of its publishing division. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-01-15 05:00:00 UTC ]
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If you've ever stopped browsing your B&N to wonder about life as a bookseller, here's a firsthand account of working at a Barnes & Noble. Continue reading at Book Riot
[ Book Riot | 2020-12-23 11:37:00 UTC ]
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A 22% decline in sales in its retail division led to a 79% drop in net income at Barnes & Noble Education in the second quarter ended October 31, 2020, compared to last year. Textbook sales fell and general merchandise revenue took a big hit. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-12-08 05:00:00 UTC ]
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Get to know about WORLD OF WONDERS, the 2020 Barnes & Noble Book of the Year. Continue reading at Book Riot
[ Book Riot | 2020-12-04 13:00:00 UTC ]
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The sudden end to the case comes after Barnes & Noble attorneys in September succeeded in knocking out Demos Parneros's claim of defamation, and just days before a scheduled pretrial conference on the parties' remaining claims. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-10-27 04:00:00 UTC ]
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Barnes & Noble said the personal information of its shoppers may have been stolen after its computer systems were hacked Continue reading at ABC News
[ ABC News | 2020-10-15 15:58:05 UTC ]
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The company said that email addresses, physical addresses, and phone numbers were all potentially exposed, although payment information is said to be safe. Soon after Barnes & Noble apologized for a “serious network issue” that affected some users of its website and people trying to load... Continue reading at Fast Company
[ Fast Company | 2020-10-15 14:16:35 UTC ]
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Barnes & Noble has been the victim of a cyber attack that saw hackers access systems containing email, shipping and billing addresses alongside phone numbers. Continue reading at The Bookseller
[ The Bookseller | 2020-10-15 11:17:23 UTC ]
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