April 30, 2012
Updated Apr 30, 2012 at 10:03 AM EDT
NEW YORK (Indiana’s NewsCenter) - Microsoft Corp recently announced that it will invest $300 million in Barnes & Noble’s digital and college businesses, an investment that brings the value of Barnes & Noble to $1.7 billion.
In January B&N, the No. 1 U.S. bookstore chain, said it may be spinning off its digital business and with Microsoft as an ally, B&N will have some ammunition to fend off shareholders who are worried about Amazon.com, Apple and Google.
Microsoft now has a 17.6 percent stake in the new digital unit, to be named Newco, while B&N will own about 82.4 percent, the companies said in a statement on Monday.
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