The two companies, who initially announced their pact in April, said their new company -- a B&N subsidiary -- will be called Nook Media LLC. They also reiterated that there's no timetable for B&N to review options for the business, including possibly spinning it out as a standalone company."As demand for digital content continues to increase, we are focused on bringing ground-breaking reading and learning content and technologies to more people in more formats than ever before, including the imminent launch of our exceptional NOOK reading application for Windows 8," B&N CEO William Lynch said in a press release.
, Microsoft agreed to invest $300 million for a 17.6 percent stake in a new Barnes & Noble subsidiary that would focus on B&N's Nook digital and college businesses. In exchange, Barnes & Noble agreed to load its Nook digital bookstore with Windows 8, the software giant's next-generation operating system that launches later this month.
The deal came a few months after Barnes & Noble said it eso it could "unlock" the value of the business. The company has been facing tough times of late, with its retail stores hurt by the move of books to digital format. It also has seen fierce competition from Amazon.