NOOK Media, LLC, a subsidiary of
Barnes & Noble, Inc. (NYSE: BKS)
, the leading retailer of content, digital media and educational products, today announced the completion of their previously announced investment by Pearson (NYSE:PSO), the world’s leading learning company. Pearson made its approximately $89.5 million in cash investment in NOOK Media, LLC at a post-money valuation of approximately $1.789 billion in exchange for preferred membership interests representing a 5% equity stake. Following the closing of the transaction, Barnes & Noble now owns approximately 78.2% of the NOOK Media subsidiary and Microsoft, which also holds preferred membership interests, owns approximately 16.8%. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent ownership in NOOK Media.
Pearson’s strategic investment in NOOK Media will accelerate customer access to digital content by pairing its leading expertise in online learning with NOOK Media’s expertise in reading technology, online commerce and customer service. This will facilitate improved discovery of available digital content and services, as well as seamless access.
“We look forward to working with Pearson, a valued partner of ours for many years, in developing new ways to improve and enhance digital learning for students,” said William Lynch, Chief Executive Officer of Barnes & Noble, Inc.
About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE:BKS) is a Fortune 500 company and the leading retailer of content, digital media and educational products. The company operates 689 Barnes & Noble bookstores in 50 states, and one of the Web’s largest e-commerce sites, BN.com (
). Its NOOK Media LLC subsidiary is a leader in the emerging digital reading and digital education markets. The NOOK digital business offers award-winning NOOK® products and an expansive collection of digital reading and entertainment content through the NOOK Store™ (
), while Barnes & Noble College Booksellers, LLC operates 674 bookstores serving over 4.6 million students and faculty members at colleges and universities across the United States. Barnes & Noble is proud to be named a J.D. Power and Associates 2012 Customer Service Champion and is only one of 50 U.S. companies so named. Barnes & Noble.com is ranked the number one online retailer in customer satisfaction in the book, music and video category and a Top 10 online retailer overall in customer satisfaction according to ForeSee E-Retail Satisfaction Index (Spring Top 100 Edition).
General information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company's corporate website:
About NOOK Media LLC
NOOK reading and entertainment products make it easy to read what you love, anywhere you like
with a fun, easy-to-use and immersive digital reading experience. With NOOK, customers gain access to the expansive NOOK Store
of more than 3 million digital books, plus periodicals, comics, apps, movies and TV shows, and the ability to enjoy content across a wide array of popular devices through free NOOK Reading Apps
and NOOK Video apps, available at
. NOOK owners receive Always Free NOOK Support in any of Barnes & Noble’s nearly 700 bookstores. Find NOOK devices in Barnes & Noble stores and online at
, as well as leading retailers including Best Buy, Walmart, Target and many others. NOOK products are available in the United Kingdom through
and leading retailers.
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Pearson, the world’s leading learning company, has global reach and market-leading businesses in education, business information and consumer publishing (NYSE: PSO).