Sunday, December 7, 2014
Microsoft quits stake in Nook
The bean-counters at Microsoft must be stinging. Originally, the company invested $605 million in Nook, back in 2012. The idea was to compete with the two big A's, Apple and Amazon, in the booming eBook market. Now, that 16.8% stake has been bought by Barnes & Noble for a mere $62.5 million.
According to Publishers Lunch, this "implies a 'fair market value of about $700 million for Barnes & Noble College and Nook combined."
With Microsoft out of the picture, Barnes & Noble now have a clearway for a spin-off of Nook Media, with a target of August 2015.