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Barnes & Noble, Microsoft end Nook deal

New York: Bookseller Barnes & Noble said Thursday it is ending its commercial agreement with Microsoft for its Nook e-book reader ahead of its planned Nook spinoff.The news came as the largest U.S. traditional bookseller
barnes noble microsoft end nook deal - India TV
India TV News Desk December 05, 2014 13:39 IST

New York: Bookseller Barnes & Noble said Thursday it is ending its commercial agreement with Microsoft for its Nook e-book reader ahead of its planned Nook spinoff.

The news came as the largest U.S. traditional bookseller reported second-quarter net income that missed expectations.

Barnes & Noble, beset by tough competition from online retailers like Amazon and discount stores like Wal-Mart, said in June that it plans to split off its money-losing Nook e-reader division as it looks to boost shareholder value.

In 2012 Microsoft paid $300 million for a 17.6 percent stake in Barnes & Noble's college bookstores and Nook business. The investment helped support the Nook business and Barnes & Noble supplied Nook content and apps for Microsoft's Windows products. On Thursday Barnes & Noble said it will buy out Microsoft's stake in the business for $125 million.

The company also said the spinoff could occur by the end of August 2015.

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