Barnes & Noble Sells $204M Stake

Douglas County-based Liberty Media will spend $204 million for a 16.6% stake in Barnes & Noble.

Douglas County-based Liberty Media will spend $204 million for a 16.6% stake in Barnes & Noble, Financial Times reports. The bookseller will issue about 12 million new preferred shares to Liberty. Liberty will be allowed to appoint two members to Barnes & Noble’s board. In May, Liberty had offered $17 a share for a 70% stake in Barnes & Noble that valued the company at $1 billion, adds RTT News.

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