Nook Media finalizes $89.5 million Pearson investment
The deal will see Pearson obtain a 5 percent stake in Nook Media, the division that handles Barnes & Noble's Nook operation.
Nook Media, the Barnes & Noble subsidiary that covers the bookseller's Nook line and accessories, has completed its investment deal with Pearson.
. Pearson will invest $89.5 million into Nook Media and will receive a 5 percent stake in return. Pearson will have the option to acquire another 5 percent of Nook Media if certain unidentified conditions are met.
Pearson is now partners with Barnes & Noble and Microsoft. In April, Microsoft and Barnes & Noble announced a joint partnership that would see. Following the Pearson transaction, Microsoft owns 16.8 percent of Nook Media. Barnes & Noble holds 78.2 percent ownership.
With Pearson now a partner, Nook Media says that it will be able to improve "discovery of available digital content and services."