Barnes & Noble has sold its majority interest in the Calendar Club to the company and its ceo for $7 million (comprising $1 million in cash and $6 million in notes). The chain will “continue to have a working relationship with Calendar Club.” BN is taking an after-tax writedown of approximately $9.7 million in their fiscal fourth quarter as a result of the sale. For 2008, Calendar Club contributed $113.5 million in revenues to Barnes & Noble, but the effect on earnings per share is “de minimis.”Release
