May 9 Shares in Barnes & Noble Inc rose
27 percent in premarket trading on Thursday after a report that
its partner Microsoft Corp is considering an offer to
acquire all of Nook Media's digital assets.
Microsoft already owns a substantial stake in the business,
but the technology industry website TechCrunch reported the
company was proposing a $1 billion offer to buy the rest of
Nook's digital assets. Nook Media also includes the college
It was not clear from the TechCrunch story whether Microsoft
has formally made that offer to Barnes & Noble's board, or
whether Barnes & Noble has replied. Barnes & Noble declined to
comment and Microsoft was not immediately available.
Shares in the bookselling chain rose to $22.50 in premarket
trading from a $17.77 close on Wednesday.
The Nook business has struggled in the face of heavy
competition from Amazon.com Inc and other players in
the tablet market. Just this week, the company slashed the price
of its top-end Nook tablet by one-third as a special Mother's