Pearson to Invest $89.5 Million in Barnes & Noble’s Nook Media
Publishing and education company Pearson PLC agreed to invest $89.5 million for a 5 percent stake in Barnes & Noble Inc.’s digital-business unit, Nook Media LLC.
Bookstore operator Barnes & Noble will now own 78.2 percent of Nook Media, and Microsoft Corp., which made a $300 million investment earlier this year, will own 16.8 percent. Pearson will also have the option to purchase up to an additional 5 percent interest in Nook Media, subject to certain conditions.
