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Microsoft invests in Nook e-books

Microsoft invests in Nook e-books

Microsoft has invested $300m (£185m) in a digital venture with US bookseller Barnes and Noble.

The deal could make Barnes and Noble’s Nook e-book reader available to millions of new customers, integrating it with the Microsoft’s new Windows 8 operating system.

The as-yet unnamed new company will be 82.4% owned by Barnes and Noble, with Microsoft getting a 17.6% stake.

The news caused the book store chain’s shares to almost double.

But some industry commentators believe publishers will be “terrified” at the implications of the deal.

“This deal with Microsoft could be the saviour of its digital division but won’t help the bricks and mortar business,” Tim Coates, managing director of Bilbary, an e-book content provider, told the BBC. “In fact it could accelerate its decline.

“Publishers will be terrified of Barnes and Noble going digital only.”

Barnes & Noble shares were up more than 80%, reaching $25, the highest level since 2009. Microsoft shares were unchanged.

The new joint venture will be be home to the bookseller’s digital and college businesses.

Barnes and Noble announced at the beginning of the year that it was looking at splitting off its digital business. It said it does not yet know whether it will float the new company.

Read More/Source: BBC News

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