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
Bookselling chain Barnes and Noble held its first annual Teen Book Festival at locations across the country from June 10–12. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-06-14 00:00:00 UTC ]
More news stories like this |
The retiring B&N chairman reflects on his years in the bookselling business, and the big changes that have reshaped the chain in the past decade. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-29 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#bookselling business
#past decade
Amazon’s new Kindle Oasis e-reader has received praise from reviewers for its design and engineering, but with a price tag of £270 for the cheapest model and £330 for added 3G internet capabilities it has also been called "too expensive for the average user". Continue reading at The Bookseller
[ The Bookseller | 2016-04-29 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#received praise
#price tag
Len Riggio, who built Barnes & Noble from a single store into the country's largest bricks-and-mortar bookseller, will retire after the company's September annual meeting. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-27 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#len riggio
#announces retirement
Newspaper publisher Digital First Media is getting a discount on its purchase of the Orange County Register and Riverside Press-Enterprise. A federal bankruptcy court judge this morning approved a final purchase price of $49.8 million for the assets of bankrupt Santa Ana publishing company... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-03-31 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#sale price
#riverside press-enterprise
Barnes & Noble ceded another battle in the ongoing war with Amazon over digital hearts and minds.The company will end the dedicated Nook app and video store on March 15, which was where you could purchase content for Nook-branded hardware, according to a report in diginomica.Nook digital... Continue reading at PC World
[ PC World | 2016-03-14 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#android device
#mobile apps
#barnes noble
#tv shows
Barnes and Noble has decided to lay down its arms and stop competing with Amazon for ebook and e-reader sales in the UK. The bookstore operator has announced it will stop selling digital content, including fiction and non-fiction, magazines and video... Continue reading at Engadget
[ Engadget | 2016-03-04 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#e-reader sales
#including fiction
The Publishers Weekly Stock Index fell 3.6% overall, with declining share prices for Amazon and News Corp. offsetting gains elsewhere. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-04 00:00:00 UTC ]
More news stories like this |
Barnes and Noble has revealed plans to launch a new "prototype" store later this year, a US conference has heard. Continue reading at The Bookseller
[ The Bookseller | 2016-02-26 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#revealed plans
For literary lovers, there's not much more exciting than browsing a well-stocked bookstore. But one Barnes & Noble location might be trying to make book shopping even more fun by adding alcohol to the equation. A Barnes & Noble store in New Hartford, N.Y., has applied for a beer and wine... Continue reading at Los Angeles Times
[ Los Angeles Times | 2015-12-28 00:00:00 UTC ]
More news stories like this |
Reading a book on a traditional tablet, such as the iPad, is a passable experience. However, a dedicated reader with an e-ink display is much superior for reading. Not only is it more comfortable for your eyes, but it works better in the sun too. Not to mention the super-long battery life. While... Continue reading at Betanews
[ Betanews | 2015-10-21 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#kindle e-readers
The 1TB Surface Book Microsoft teased at the laptop’s reveal is finally available for preorder, and boy, it’s expensive. For $3,200, the highest-end Surface Book packs an Intel Core i7 processor—Microsoft previously said the specific model would be the i7-6600U, a 2.6GHz dual-core processor with... Continue reading at PC World
[ PC World | 2015-10-19 00:00:00 UTC ]
More news stories like this |
Total revenue at Barnes & Noble fell 1.5% in the first quarter ended August 1, 2015, to $1.2 billion, compared to last year’s first period and the net loss increased to $34.9 million from $28.4 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-09 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#total revenue
Paper books are archaic -- e-readers and tablets are the proper way to read nowadays. They are more convenient for traveling, helpful for nighttime reading, and most importantly, don't take up room. Both public and in-home libraries are a waste of space. Today, Barnes and Noble announces its... Continue reading at Betanews
[ Betanews | 2015-09-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#paper books
#unlike amazon
#designed in-house
#app store
The board of directors of the retail chain has signed a definitive agreement to be acquired by the Anderson family for $3.25 per share. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-07-14 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#buy books-a-million
#retail chain
#definitive agreement
#anderson family
Ronald Boire, a man with plenty of electronics experience, is taking over as CEO of Barnes & Noble, as the bookseller spins off its education division. The post Barnes & Noble Looks to New Leader to Save NOOK appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2015-07-07 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#ronald boire
#education division
Ron Boire has been named the next CEO of Barnes & Noble, Inc., beginning September 8. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-07-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#ron boire
#barnes noble
When the managers of indie giants Garbage asked photographer Pat Pope to use his pictures for no fee, he made a standA professional photographer for more than 20 years, and published in Q, Melody Maker and Rolling Stone, Pat Pope has worked with many of the biggest names in pop and rock music,... Continue reading at The Guardian
[ The Guardian | 2015-04-19 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#biggest names
#david bowie
Barnes & Noble Education is counting on growth in a number of digital initiatives, as well as taking over the operation of more college stores, to improve operating results. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-03-06 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#digital initiatives
#college stores
Barnes & Noble Inc. said Thursday that a key sales measure rose 1.7% during the holiday season as sales of physical books continued to stabilize. The news sent shares rising 4.6% in premarket... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2015-01-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#holiday season