NOOK Media, LLC, a subsidiary of Barnes & Noble, Inc. BKS, the leading
retailer of content, digital media and educational products, today announced
that Pearson PSO, the world's leading learning company, has agreed to
make a strategic investment in NOOK Media, LLC. Pearson has agreed to invest
$89.5 million in cash in NOOK Media, LLC at a post-money valuation of
approximately $1.789 billion in exchange for preferred membership interests
representing 5% equity stake. Following the closing of the transaction, Barnes
& Noble will now own approximately 78.2% of the NOOK Media subsidiary and
Microsoft, which also holds preferred membership interests, will own
approximately 16.8%. Subject to certain conditions, Pearson will earn the
option to purchase up to an additional five percent ownership in NOOK Media.
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