Why Barnes & Noble (BKS) Stock Is Down On Thursday

NEW YORK (TheStreet) -- Shares of Barnes & Noble, Inc. (BKS) are down 9.77% to $19.95 this morning after Liberty Media (LMCA) 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.

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