je.st
news
Microsoft sells Nook stake back to Barnes & Noble
2014-12-05 08:58:00| Telecompaper Headlines
(Telecompaper) Microsoft is withdrawing from its investment in Barnes & Noble's Nook e-reader. The company acquired a stake in Nook Media in 2012, but has now agreed to sell it back to Barnes & Noble and end their commercial cooperation. The sale will help Barnes & Noble continue with its plan to separate its digital business from its traditional retail activities, a process expected to be completed by the end of August 2015. The announcement came alongside quarterly results showing Nook'a revenues down 41.3 percent year-on-year to USD 64 million. Device sales fell 63.7 percent to USD 18.7 million in the three months to October, and digital content sales dropped 21.2 percent to USD 45.2 million. Nook narrowed its EBITDA loss to USD 8 million from USD 38 million a year ago.
Tags: back
microsoft
noble
sells
Category:Telecommunications