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Microsoft Ponders $1B Bid for Nook Media, Shares Jump

by Todd Haselton | May 9, 2013May 9, 2013 7:30 am PDT

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Microsoft is reportedly considering offering as much as $1 billion for Barnes & Noble’s Nook Media unit, of which it is already a partner, according to paperwork obtained by TechCrunch. The news bumped shares of Barnes & Noble roughly 21 percent at the time of publication, or $3.73 per share.

Barnes & Noble is also apparently readying to exit the Android tablet business altogether, perhaps on poor sales of its Android-based Nook tablets, and instead wants to focus on delivering its mobile application to other devices. The application serves as a portal to Barnes & Noble content, much like Amazon’s standalone app does. Apparently the company is going to continue building its eReaders, however.

Microsoft and Barnes & Noble completed a $300 million “Nook Media” joint venture in October. It includes Barnes & Noble’s college and digital businesses. Neither company has responded to the report.

TechCrunch

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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