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.
