facebook
twitter
rss
account
search
search
 

Barnes & Noble and founder to discuss deal

Feb. 25, 2013 at 8:03 AM   |   Comments

NEW YORK, Feb. 25 (UPI) -- The founder of Barnes & Noble, Leonard Riggio, intends to negotiate with its directors to buy the retail end of the company, a regulatory filing said.

Riggio owns 30 percent of the company and expects to negotiate a deal that is primarily a cash transaction, The New York Times reported Monday.

The deal is not expected to include Nook Media, which is the company's digital book business.

With the publishing business in rapid transition due to the Internet and electronic options for reading material and other content, Barnes & Noble is expected to post losses from the fourth quarter.

The Times said Nook Media is also expected to post losses for the quarter.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
1
Northrop Grumman developing reusable space plane for lifting spacecraft into orbit
2
Iran wants to develop mini-LNG plants
3
Slovakia plants seed in Ukrainian gas sector
4
Twitter to remove pictures of deceased on family's request
5
Iraq worried by terrorist ties to oil
Trending News
Video
x
Feedback