Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Pearson to Invest $89.5 Million in NOOK Media

Barnes & Noble (NYSE: BKS  ) subsidiary NOOK Media announced today that British publishing giant Perason plc (NYSE: PSO  ) has agreed to make a $89.5 million "strategic investment" in exchange for a 5% equity stake in NOOK.

NOOK Media includes the Nook e-reader and tablets, the Nook digital bookstore, and 674 college bookstores across America.

The cash infusion values the B&N subsidiary at approximately $1.8 billion, and adds a third owner of the NOOK business. Post-purchase, Microsoft (NASDAQ: MSFT  ) will own a 16.8% stake in the subsidiary. B&N will retain a controlling 78.2% stake, while Pearson joins with a 5% interest in the subsidiary. Pearson will also have the option of upping its stake to 10% at a later date.

Will Ethridge, CEO of Pearson North America, is quoted in the company press release as saying that Pearson and Barnes & Noble have been "valued partners for decades, and in recent years both have invested heavily and imaginatively to provide engaging and effective digital reading and learning experiences." The agreement announced today "is another example of our strategy of making our content and services broadly available to students and faculty through a wide range of distribution partners."


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2171923, ~/Articles/ArticleHandler.aspx, 10/26/2016 3:26:59 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,201.83 32.56 0.18%
S&P 500 2,139.54 -3.62 -0.17%
NASD 5,249.48 -33.92 -0.64%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/26/2016 3:10 PM
BKS $10.48 Up +0.03 +0.24%
Barnes and Noble CAPS Rating: *
PSO $9.10 Up +0.04 +0.44%
Pearson CAPS Rating: **
MSFT $60.63 Down -0.36 -0.59%
Microsoft CAPS Rating: ****