Barnes & Noble Buys Pearson’s Stake in Nook Ereader Unit
Barnes & Noble Inc. (BKS), the largest U.S. bookstore chain, bought back Pearson Plc's stake in its Nook Media e-reader division for about $28 million, giving it complete ownership of the business.
Pearson's stake was purchased for $13.8 million and about 603,000 shares of common stock, New York-based Barnes & Noble said in a regulatory filing today.
The agreement gives Barnes & Noble more flexibility to rid itself of the struggling unit, a move investors have urged for years and that the company agreed to pursue in June.
Related Content
Comments
%0D%0A%20%20Pearson's%20stake%20was%20purchased%20for%20$13.8%20million%20and%20about%20603,000%20shares%20of%20common%20stock,%20New%20York-based%20Barnes%20%26%20Noble%20said%20in%20a%20regulatory%20filing%20today.%0D%0A<%2Fp>%0D%0A
%0D%0A%20%20The%20agreement%20gives%20Barnes%20%26%20Noble%20more%20flexibility%20to%20rid%20itself%20of%20the%20struggling%20unit,%20a%20move%20investors%20have%20urged%20for%20years%20and%20that%20the%20company%20agreed%20to%20pursue%20in%20June.%0D%0A%0D%0A%0D%0Ahttps%3A%2F%2Fwww.bookbusinessmag.com%2Faggregatedcontent%2Fbarnes-noble-buys-pearson-s-stake-nook-ereader-unit%2F" target="_blank" class="email" data-post-id="10804" type="icon_link"> Email Email
0 Comments Comments