Barnes & Noble buys back Microsoft’s share of Nook Media
Barnes & Noble (B&N) has bought back Microsoft’s share of Nook Media for US$125 million (A$150 million) with a combination of cash and stock, reports Publishers Weekly. Microsoft originally invested US$300 million (A$360 million) in a partnership with B&N in 2012 to form Nook Media. Ending the partnership will free Microsoft from its obligation to invest additional funds in Nook Media and will free B&N from making further investments in Nook Media’s international business, which generated little revenue. CEO Mike Huseby said he hopes that B&N’s restructure will be completed by next August. Huseby said that ending the partnership will allow B&N to separate its retail stores from Nook Media, which is comprised of Nook Digital and B&N’s college stores businesses.
Category: International news