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Barnes & Noble Stock Falls 12 Percent; Riggio Reflects

Barnes & Noble stock fell almost 12 percent on Thursday following the disclosure of chairman Len Riggio's big sale of 3.7 million shares, reducing his stake to roughly 20 percent (down from 30 percent at the beginning of December). Trading finished at $16.37 a share on heavy volume of 9.4…

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Riggio Sells Another Big Piece of Barnes & Noble, Sending Shares Down

Any lingering expectation that Barnes & Noble chairman Len Riggio might still take the company's bookstores private was further dampened Thursday morning by the disclosure that Riggio sold 3.7 million shares of the company's stock. The SEC filing indicates he received the below-market price of $17.30 per share "in a privately…

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WME Details IMG Cost Cuts for Lenders

Sports Business Journal and The Wrap both obtained financial documents prepared in connection with William Morris Endeavor's debt offerings, lining up financing for their acquisition of IMG. The transaction is due to close May 1, though the two sources disagree on the actual price (between $2.375 billion and $2.45 billion).…

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Corporate: A Wiley Acquisition; and Job Cuts At RH Children's UK and Weltbild

Wiley announced another sizable acquisition, agreeing to pay $175 million in cash to purchase French-based learning solutions provider CrossKnowledge, which focuses on leadership and managerial skills development. The deal is expected to close on May 1. Wiley has been investing heavily in their professional development division, and acquired a related…

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Amazon Acquires ComiXology

Just hours after posting ceo Jeff Bezos' letter to shareholders, Amazon announced after the close of the market on Thursday that it acquired digital comics firm ComiXology, confirming rumors circulating since the beginning of the month. The deal for undisclosed terms -- is expected to close in the second quarter of…

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Simply, Liberty Media Took the Money

Liberty Media filed their required disclosure with the SEC subsequent to their previously announced sale of 91 percent of their preferred shares in Barnes & Noble to "qualified institutional investors." Their motives are pretty clear from the filing: Liberty received $250.7 million for the shares, after investing $204 million in…

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Liberty Media Backs Away from Barnes & Noble

One-time Barnes & Noble financial savior (and potential acquirer) Liberty Media is moving on, announcing Thursday morning that it is selling the bulk of its preferred shares in the bookseller. Liberty says it "has sold the majority of its shares to qualified institutional buyers" with the sales expected to settle…

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Cengage Completes Restructuring

Two months after reaching an agreement with its primary creditors and investors, Cengage announced it has completed its financial restructuring, which eliminated $4 billion of its $5.8 billion total debt, and has emerged from Chapter 11 bankruptcy. The remaining debt -- which is slightly less than the company's annual sales…

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Hodder Offers to Buy Quercus

Two months after putting itself up for sale, Quercus has found a buyer in Hodder & Stoughton, which has made an all-cash offer of £12.6 million for the publisher. Under the terms of the deal, which is expected to close at the end of April and be finalized by the…

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Penguin Random House Acquires Santillana Trade Publishing

Though the story was denied when it first circulated in April 2013, Penguin Random House has now officially acquired the Santillana trade book business from Spain's challenged Prisa Group. Santillana Ediciones operates in Spain, Portugal, and Latin America, including Brazil. Santillana says in their announcement that the purchase price was 72 million…

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