Liberty Media Offers to Buy Barnes & Noble

Barnes & Noble, the nation’s largest book chain, said on Thursday it had received a proposal from Liberty Media to acquire the company, more than nine months after the bookseller put itself up for sale.

Liberty Media offered to pay $17 a share in cash, valuing the company at $1.02 billion. The offer represents a 20 percent premium to Barnes & Noble’s closing stock price on Thursday. The stock last traded above $17 in February.