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Barnes & Noble to buy Microsoft's stake in Nook business

Thursday, December 4, 2014 - 22:19
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Bookseller Barnes & Noble Inc said it would buy Microsoft Corp's 17 per cent stake in its Nook business, comprising e-readers, e-books and college bookstores.

[NEW YORK] Bookseller Barnes & Noble Inc said it would buy Microsoft Corp's 17 per cent stake in its Nook business, comprising e-readers, e-books and college bookstores.

The company said its total revenue fell 2.6 per cent to US$1.69 billion in the second quarter, hurt mainly by its Nook business.

Net income fell to US$12.3 million, or 12 cents per share, for the quarter ended Nov 1 from US$13.2 million, or 15 cents per share, a year earlier.

Pearson Plc owns 5 per cent of the Nook business.

REUTERS