Barnes & Noble Inc. promoted Michael Huseby, who has served as its chief financial officer and president, to chief executive officer as the chain struggles to retain customers increasingly shifting to digital books.
Huseby also has been elected to the board, the New York- based company said today in a statement.
- By Karin Hernandez:On Monday, April 30, Microsoft (MSFT), the world's leading software company, announced a $300 million joint partnership with Barnes & Noble (NYSE: BKS), much to the surprise of the market and the utter delight of Barnes & Noble shareholders, who promptly saw a better than 60% gain in their holdings.
Barnes & Noble, Inc. (NYSE:BKS) announced today, second-quarter results for its fiscal year 2015 (2QFY15) and with it announced the company’s decision to buy Microsoft Corporation’s (NASDAQ:MSFT) stake in its NOOK media. The deal may result in a payment of over $100 million by Barnes & Noble to Microsoft with $62.4 million in cash and an estimated $52.8 million worth of stock. Nearly 2.7 million shares are to be sold by Microsoft.
By Alexander Paslawsky:Late Sunday, news broke that the majority shareholder of Barnes & Noble, Inc (BKS) Leonard Riggio will be making an offer for the retail stores and online store (barnesandnoble.com) part of the business.
NEW YORK/SEATTLE (Reuters) - Microsoft Corp is jumping into the fast-growing e-books market by investing $605 million over five years in Barnes & Noble Inc's Nook e-reader and college business, as it looks to unlock Amazon.com and Apple Inc's grip on the exploding tablet computer market.