When Barnes & Noble bought back Microsoft’s 16.8 percent stake in Nook Media earlier this month for $125 million in cash and stock, they gave Pearson an option to sell back their Nook shares as well. In a filing with the SEC Tuesday morning, BN announced they purchased Pearson’s stake on December 22 for $13.75 million and 602,927 shares of its common stock. The buyback is at the same reduced valuation as the Microsoft repurchase, down from the $89.5 million Pearson paid in 2012 for their 5 percent stake in Nook Media. The deal is what ceo Michael Huseby earlier termed a “tag-along right” that […]
