Liberty Media Calls Talk About A Barnes & Noble Sale “Preliminary”

By | Wednesday February 27, 2013 @ 2:52pm PST

Liberty Media CEO Greg Maffei, whose company owns about 17% of Barnes & Noble, doesn’t seem impressed by this week’s disclosure by the book store chain’s founder Leonard Riggio that he may try to buy its Read More »

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Barnes & Noble Founder Wants To Buy Its Bookstore Business

By | Monday February 25, 2013 @ 5:15am PST

Barnes & NobleShares are up more than 15% in pre-market trading after Leonard Riggio disclosed in an SEC filing this morning that he plans to make an offer for the retailer’s main business. Barnes & Noble‘s founder, chairman and largest stockholder, with nearly 30% of the voting shares, says he’s interested in the stores and barnesandnoble.com, but not the NOOK Media operation where B&N owns about 78.2% of equity along with Microsoft which has 16.8% and Pearson with 5%. Riggio’s proposal would “facilitate the Company’s evaluation of its previously announced review of strategic options for the separation of its investment in NOOK Media,” he says. The purchase price “would be negotiated with the Board” and its advisers and “is currently contemplated” to include cash and assumption of debt. Riggio would include his equity and take on the debt needed to make the deal. Read More »

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