Microsoft to Invest $300M in New Barnes & Noble Unit
NEW YORK (TheStreet) -- Microsoft(MSFT) will make a $300 million investment for a 17.6% stake in a new Barnes & Noble (BKS) subsidiary that will bring together the bookseller's digital and college businesses.
The partnership includes a NOOK application for Windows 8, Barnes & Noble and Microsoft said.
Barnes & Noble will own 82.4% of the subsidiary, which hasn't been named.
"The partnership will accelerate the transition to e-reading," the companies said in a press release Monday.
-- Written by Joseph Woelfel
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