The strategic partnership between Barnes & Noble and Microsoft is now complete and the new venture will be called Nook Media.
Nook Media will be a B&N subsidiary made up of its digital and college businesses, backed by a $300 million investment from Microsoft. The partnership will help B&N continue its growth into digital content and allows the company to expand internationally, CEO William Lynch told The Wall Street Journal. Lynch added he expects Nook Media revenues to be $3 billion annually, but no decisions have been made for possible spinoffs.
“There can be no assurance that the review will result in a strategic separation or the creation of a stand-alone public company,” Lynch said. “Barnes & Noble does not intend to comment further regarding the review unless and until a decision is made.”
Nook Media does have one issue to address: The name is already owned by a Swedish developer of online gambling casinos, according to Digital Reader.