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Friday, December 5, 2014

Microsoft withdraws from the joint-owned Barnes & Noble NOOK eBook business

Barnes & Noble and Microsoft have agreed to end their NOOK eBook partnership.

The two organisations formed NOOK Media LLC in 2012, combining Barnes & Noble’s digital eBook and College education businesses into a new company that was 17.6% owned by Microsoft. Patent litigation between the two companies was also settled in 2012.

However, NOOK Media is now saying goodbye to Microsoft, apparently returning less than half the original $300 million investment.

Michael P Huseby, CEO of Barnes & Noble, said “Today’s announcement on the restructuring of the NOOK Media agreements will enable the Company to further rationalize the NOOK business and provide a clearer path for the potential separation of our Retail and NOOK Media businesses.”

Quarterly figures from Barnes & Noble show its NOOK content, devices and accessories generating revenue of $64 million for the past three months, down over 41% year-on-year.

[Securities and Exchange Commission filing]

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Author: The Fonecast
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