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Pearson invests $89.5M in Barnes & Noble's Nook business

updated 10:41 am EST, Fri December 28, 2012

British publisher takes five percent stake

British publisher Pearson has committed to an $89.5 million investment in Barnes & Noble's Nook Media subsidiary. The stock acquisition represents a five-percent stake in the Nook division, which will continue to be controlled by Barnes & Noble's 78.2-percent ownership.

"We formed NOOK Media to be a leader in the exploding market for digital content," said Barnes & Noble CEO William Lynch. "Pearson is a forward thinking company similarly focused on reading and learning, with powerful assets and a terrific management team."

Pearson joins Microsoft in its Nook investment, after the latter company moved to acquire a 16.8-percent share in the digital distribution venture. Terms of the Pearson investment enable the British company to eventually double its stake in the Nook division.

Barnes & Noble has worked to compete directly with Amazon's Kindle ecosystem, which has proven a top contender in the Android tablet arena. Both companies offer several tablets and e-readers, paired with competing distribution systems for digital content such as e-books, movies and music.

"With this investment we have entered into a commercial agreement with NOOK Media that will allow our two companies to work closely together in order to create a more seamless and effective experience for students," said Pearson North America CEO Will Ethridge.

The companies have yet to elaborate on specific details regarding their fledgling partnership.

by MacNN Staff



  1. cgc

    Professional Poster

    Joined: 03-25-03

    Great! The Nook's my favorite e-reader...good to see it get more support and money.

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