Liberty Media offers to buy Barnes & Noble

The Nook maker has been struggling in its brick-and-mortar business

U.S. bookseller Barnes & Noble might have found a buyer. On Thursday the maker of the Nook e-reader said it has received an acquisition proposal from media conglomerate Liberty Media.

Liberty Media is offering US$17 a share in cash, which values the company at close to $1 billion. Confirming the proposal, Liberty Media said the deal will see it take a stake of about 70 percent in the struggling bookseller.

Its proposal to acquire Barnes & Noble is contingent on the participation of founding chairman Leonard Riggio, both as a manager and shareholder of the company.

Barnes & Noble said in August 2010 that its Board of Directors intended to evaluate a number of alternatives for the company, including a possible sale, after it concluded that its shares were significantly undervalued.

The company's brick and mortar bookstore business has been struggling along with that of competitors. Borders Group filed for Chapter 11 bankruptcy protection in February.

Barnes & Noble is pushing into the digital space with its Nook e-book reader, a new version of which is expected to be announced on May 24.

It added tablet-like functions to its reader last month with a software update, version 1.2, for its Nook Color, that delivers apps, full-featured e-mail, and enhanced web browsing.

Barnes & Noble said in February that its sales of e-books is twice that of physical books through its online site.

Liberty Media owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Its interactive arm, which will make the proposed acquisition, holds stakes in QVC, Expedia and several other e-commerce sites.

The acquisition proposal will now be studied by Barnes & Noble.

John Ribeiro covers outsourcing and general technology breaking news from India for The IDG News Service. Follow John on Twitter at @Johnribeiro. John's e-mail address is john_ribeiro@idg.com

Join the PC World newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesBarnes & NobleMergers / acquisitionsconsumer electronicsLiberty Mediae-readersinternet

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

John Ribeiro

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Armand Abogado

HP OfficeJet 250 Mobile Printer

Wireless printing from my iPhone was also a handy feature, the whole experience was quick and seamless with no setup requirements - accessed through the default iOS printing menu options.

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?