Liberty Media bids almost $1 billion for Barnes & Noble

Liberty Media announced late yesterday that it has offered US$980 million for bookstore chain Barnes & Noble, paidContent reported.

The offer values B&N at $17 a share, 20.4 percent more than yesterday’s closing price of $14.11. However, the stock increased after news of the bid broke, increasing 18.5 percent, to $16.73.

B&N has a quickly growing digital bookstore chain, accompanied by a top selling e-reader, the Nook, which is second to Amazon’s Kindle.

The book seller’s online revenue was up 52 percent last quarter, to $319.4 million, as the Nook began to pay off, reported.

This entry was posted in e-books, e-reader. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s