Barnes & Noble and Microsoft at one time couldn't get along. Now, they're partners.
The companies announced today that Microsoft has invested $300 million into a new Barnes & Noble subsidiary, known as Newco until the company can come up with a name. The $300 million investment will give Microsoft a 17.6 percent equity stake in the firm. Barnes & Noble, which assumed a $1.7 billion valuation on the subsidiary, will retain 82.4 percent ownership.
Newco will combine Barnes & Noble's digital and college businesses, meaning the retailer's Nook operations and its Nook … Read more