Android app on Google Play

Pearson (PSO) Completes $89.5M NOOK Media Investment

January 23, 2013 8:37 AM EST Send to a Friend
Get Alerts PSO Hot Sheet
Trade PSO Now!
Join SI Premium – FREE
NOOK Media, LLC, a subsidiary of Barnes & Noble, Inc. (NYSE: BKS), the leading retailer of content, digital media and educational products, today announced the completion of their previously announced investment by Pearson (NYSE: PSO), the world’s leading learning company. Pearson made its approximately $89.5 million in cash investment in NOOK Media, LLC at a post-money valuation of approximately $1.789 billion in exchange for preferred membership interests representing a 5% equity stake. Following the closing of the transaction, Barnes & Noble now owns approximately 78.2% of the NOOK Media subsidiary and Microsoft, which also holds preferred membership interests, owns approximately 16.8%. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent ownership in NOOK Media.

Pearson’s strategic investment in NOOK Media will accelerate customer access to digital content by pairing its leading expertise in online learning with NOOK Media’s expertise in reading technology, online commerce and customer service. This will facilitate improved discovery of available digital content and services, as well as seamless access.

“We look forward to working with Pearson, a valued partner of ours for many years, in developing new ways to improve and enhance digital learning for students,” said William Lynch, Chief Executive Officer of Barnes & Noble, Inc.




You May Also Be Interested In


Related Categories

Corporate News, Management Comments, Mergers and Acquisitions

Add Your Comment