Flash! Liberty Media bids over $1 billion for Barnes & Noble

Flash! Liberty Media bids over $1 billion for Barnes & Noble

Thanks to one of my regular readers (and commenters), Edward Boyhan, for the heads-up on this one.

Liberty Media, which bought Sirius XM Radio at a low point, has put in a bid for Barnes & Noble of over $1 billion.

That’s a good sign for NOOK owners: since it is a media company, it undoubtedly wants to move into e-books.  They also own Starz…and the Atlanta Braves.

Part of the controversy inside Barnes & Noble has been the issue of Leonard Riggio, who built B&N as the brand it is, and is currently the Chair.  There’s been infighting, but the Liberty deal would include keeping Riggio in charge.

B&N stock was way up on the offer.  That doesn’t necessarily mean that stockholders approve of this deal…they probably rightly assume that there may be other offers.  It’s definitely a vote of confidence in the NOOK.  This was also a good time to make an offer…B&N has some NOOK announcement coming on May 24 (it may be an entry-level model), and that might drive the price up a bit.

A new Kindle (or tablet) doesn’t affect Amazon’s stock as much…since that’s a small part of Amazon (as compared to e-books and B&N).

Anyway, interesting news!

Reuters article

This post by Bufo Calvin originally appeared in the I Love My Kindle blog.

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2 Responses to “Flash! Liberty Media bids over $1 billion for Barnes & Noble”

  1. Edward Boyhan Says:

    A little more info/color on the BN deal from the WSJ
    http://www.emailthis.clickability.com/et/emailThis?clickMap=viewThis&etMailToID=1262076936

  2. Barnes & Noble: sales are up, but stores drop in Q4 « I Love My Kindle Says:

    [...] sales are up…a lot. B&N is entertaining a purchase offer from Liberty Media, and they like to take a challenged business and flip [...]

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