Barnes & Noble to separate Nook business

News Wireless United States 25 JUN 2014
Barnes & Noble to separate Nook business
Barnes & Noble said it plans to spin off its digital books business Nook into a separate company from its retailing activities. Nook Media is expected to become a separate public company by the first quarter of 2015. Barnes & Noble said it has taken a number of steps to strengthen and rationalise the Nook business in the past year, including the recent announcement it will produce co-branded Nook devices with Samsung. The company should be able to develop better as a standalone business. 

The announcement was made alongside results for the fiscal fourth quarter to 03 May. These showed Nook revenues down 25 percent year-on-year to USD 87.1 million, while the unit's EBITDA loss narrowed to USD 56.0 million from USD 181.9 million a year ago. Over the full year, Nook generated a loss of USD 217.6 million on revenues of USD 505.9 million. 

Categories:

Mobile

Companies:

Samsung,  Barnes & Noble

Countries:

United States

Tags:

Financial figures, Consumer devices, Corporate strategy

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