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Microsoft to buy out Nook e-reader business - report
2013-05-09 09:23:00| Telecompaper Headlines
(Telecompaper) Microsoft is offering to pay USD 1 billion to buy the digital assets of Nook Media, the e-reader business of Barnes & Noble, according to internal documents obtained by TechCrunch. Microsoft would redeem preferred units in Nook Media, which also includes a college book division, leaving it with the digital operation, which includes e-books and the Nook e-readers and tablets. The documents also reveal that Nook Media plans to discontinue its Android tablet business by the end of its 2014 fiscal year, as it transitions to offering Nook content through apps on third-party devices. Microsoft has already invested in the Nook business, buying a 16.8 percent stake in 2012 and contributing to the development of Nook content for Windows 8. To date, there have been 10 million Nook devices sold, including both tablets and e-readers, with more than 7 million active subscribers.
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