Liberty Media Sells 15% Stake in Barnes and Noble
Apr
03

Liberty Media Sells 15% Stake in Barnes and Noble

By

100462317-Liberty-Media-gettyp.530x298

Barnes and Noble has always been an attractive acquisition target for their Nook or bookstore division. In 2011 Liberty Media initiated a powerplay to buy the chain of retail stores, but settled for a 17% stake in the company. They paid close to $204 million dollars for the equity and it looks like they have had enough. Liberty is selling off 15% of their ownership of B&N and will have a paltry 2% left over.

Many online journalists and newspapers have been lambasting Barnes and Noble for over a few years. The company continues to bleed over a billion dollars in their ereader and eBook initiatives. When word of the Liberty selloff happened the B&N stock plummeted by over 10%.

It is hard to dismiss the fact that the college and bookstore chains are very healthy. They continue to generate profit every financial quarter, but management and Nook Media woes continue to garner negative publicity. The lack of a cohesive direction is prompting investors like Liberty to just abandon the sinking ship.

Michael Kozlowski (4352 Posts)

Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about electronic readers and technology for the last four years. His articles have been picked up by major and local news sources and websites such as the Huffington Post, CNET and more. Michael frequently travels to international events such as IFA, Computex, CES, Book Expo and a myriad of others. If you have any questions about any of his articles, please send an email to michael@goodereader.com


Categories : Business News
  • http://www.PeteNikolai.com/ Pete Nikolai

    Facts and math: Liberty “will retain approximately 10 percent of its initial investment.” So they are selling approximately 90% of their ownership–not 15%.