NEW YORK (TheStreet) -- Shares of Barnes & Noble, Inc. (BKS) are down 9.77% to $19.95 this morning after Liberty Media (LMCA - Get Report) said it was selling the majority of its stake in the bookseller.
Liberty Media, involved in the media, communications and entertainment industries, will retain a 10% stake, allowing Barnes & Noble "greater flexibility" to right itself, and will give up its right to have two representatives on Barnes & Noble's board.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts