Nook Media, a subsidiary of Barnes & Noble, has announced that publisher Pearson has agreed to make a strategic investment in Nook Media. Pearson has agreed to invest USD 89.5 million in cash in Nook Media, at a post-money valuation of approximately USD 1.789 billion in exchange for preferred membership interests representing a 5 percent equity stake. Following the close of the transaction, Barnes & Noble will now own approximately 78.2 percent of the Nook Media subsidiary and Microsoft, which also holds preferred membership interests, will own 16.8 percent. Subject to certain conditions, Pearson will earn the option to purchase up to an additional 5 percent ownership in Nook Media. Pearson's strategic investment in Nook Media will accelerate customer access to digital content by pairing its online learning with Nook Media's online distribution and customer service.
