A couple of updates/corrections to stories from last week. Regarding Barnes & Noble‘s original purchase of Sterling Publishing, we have all been using the incorrect figure of “approximately $115 million,” which is what BN said in their SEC filing on January 23, 2003. In the bookseller’s printed annual report to shareholders, they explain that the real cost was $122.593 million (which include cash proceeds of just over the reported $115 million, but also $7.415 million “to reduce short-term debt.” Additionally, contrary to longstanding informal impressions within the business, someone with direct knowledge of the sale says that BN’s $122.6 million […]
