Liberty Media Corp. made an offer to acquire B&N for $1.02 billion.
Barnes & Noble has been seeking a buyer since last summer. Now they might have found one. According to the Wall Street Journal, Liberty Media made an offer of $1.02 billion to buy the book seller. This is a 20% premium over the current share price. Barnes & Noble is struggling financially with a debt of $450 million. Although the company did make a positive impression with their Android based nook eBook Reader with gadget fans.
Actually a new nook is scheduled to be released next week. The new nook is expected to be close to a full fledged tablet. Whether or not the Liberty Media deal will have any impact on the nook announcement remains to be seen. B&N is supposed to be reviewing the offer now.
Liberty Media has interests across a wide range of businesses including QVC, Expedia, Starz and more.