The future of both Barnes & Noble and the digital reading business took new shape Monday morning as the bookseller announced the creation of a new subsidiary, into which they have transferred all of the Nook and BN College units (comprising “their digital device, digital content and college bookstore businesses.”) Microsoft is investing $300 million in that subsidiary–called simply NewCo for now (a standard corporate placeholder before the real name is finalized)–in exchange for preferred shares representing a 17.6 percent stake. That gives the newly-formed unit an approximate valuation of $1.7 billion (with BN’s share valued at $1.4 billion) — far more than […]
