Barnes & Noble announced Thursday that it has formally closed its strategic partnership with Microsoft. The new BN subsidiary comprising the Nook and College business, is formally called Nook Media LLC (until now it was simply known by the placeholder NewCo). As originally specified, Microsoft now has an approximately 17.6 percent equity stake in Nook Media, valuing the subsidiary at $1.7 billion (but the stock market still gives Nook Media’s parent company Barnes & Noble a market capitalization of $800 million, even with a bump in shares today after realizing that the investment the market forget about had gone through.) […]
