Barnes & Noble Inc (BKS.N) said it would spin off its college books unit and keep its Nook tablets and e-book business, instead of spinning off a combination of the two.
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Barnes & Noble Inc (BKS.N) struck a deal to buy Microsoft Corp's (MSFT.O) stake in Nook Media LLC, ending a two-year partnership and clearing the way for the bookseller to spin off its loss-making e-reader and digital content division.
Liberty Media announced selling a controlling stake in Barnes & Noble without disclosing the price and the potential bidders for the transaction, said a Reuters report.
Illinois, US-based book retailing giant Barnes & Noble confirmed that it eliminated jobs across the company, but denied eliminating their Nook hardware engineering division, contrary to a report from Business Insider.
The market has quieted a day before the US Thanksgiving, but retail stocks Barnes & Noble, Crocs, and Rite Aid are still making waves all over the world.
Mitchell Klipper, head of the retail group at Barnes & Noble, sells 400,996 shares, giving up more than half of his stake in the company.
The federal and state regulators proposed remedies for Apple Inc's e-book price-fixing.
According to analysts, the future of Barnes & Noble is bleak due to plunging sales and market shares including higher expenses than earnings.
William Lynch filed a surprise resignation last Monday that could result for Barnes & Noble to redirect its focus to retail selling of its books through outlets.
Chief Executive Officer for Barnes & Noble William Lynch resigned on Monday after failure to lead the US bookstore chain to compete against Amazon.com and Google Inc in the online market.
