Market Overview

Barnes & Noble's NOOK Media Announces $89.5M Investment by Pearson

Related BKS
Amazon Launches Unlimited E-Book Subscriptions For $9.99 Per Month
Office Depot Adds Samsung SMART Printers to Product Line
Private Equity Firms Bulk Up Investments in Fitness (Fox Business)
Related PSO
Top Performing Industries For July 28, 2014
Worst Performing Industries For July 21, 2014

NOOK Media, LLC, a subsidiary of Barnes & Noble, Inc. (NYSE: BKS), the leading retailer of content, digital media and educational products, today announced that Pearson (NYSE: PSO), the world's leading learning company, has agreed to make a strategic investment in NOOK Media, LLC. Pearson has agreed to invest $89.5 million in cash in NOOK Media, LLC at a post-money valuation of approximately $1.789 billion in exchange for preferred membership interests representing 5% equity stake. Following the closing of the transaction, Barnes & Noble will now own approximately 78.2% of the NOOK Media subsidiary and Microsoft, which also holds preferred membership interests, will own approximately 16.8%. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent ownership in NOOK Media.

Posted-In: News

 

Most Popular

Related Articles (BKS + PSO)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters