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Liberty Media's About Face On Barnes & Noble

Posted at 9:05AM Saturday 05 Apr 2014

Liberty Media is reducing its 17% stake in bookseller Barnes & Noble in a deal rumored to be worth over $250 million that will close on April 8. Liberty will divest itself of all but 10% of its current shares and will relinquish one seat on the board. It will also be giving up its ability to prevent the company from selling off any of its divisions.

Barnes & Noble shares were down nearly 14% today in trading following the news. Liberty's investment in Barnes & Noble was seen by many observers as a vote of confidence for the bookseller.


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