According to the Publishers Weekly post by Jim Milliot, Barnes and Noble has agreed to an acquisition by the equity firm Elliot Advisors. The purchase will close in the third quarter of this year. James Daunt will then become CEO. The equity firm has also announced that after the acquisition the Barnes and Noble headquarters will stay in New York. Barnes and Noble sales declined recently. The company has tried various efforts to turn sales around ranging from opening new eating venues in the stores to changing CEOs. The company is in the midst of a lawsuit and counter suit with the last CEO, Demos Parneros.
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| Guess I'll have to find another online store. |
Panzer says, "Umm ... This might not be good news for this little kitty. There's no mention of Barnes and Noble's online store or the Nook ereader. Most of my ebook sales are through Barnes and Noble's online store."
Note: This is a medium length post. Bring a cup of tea and a muffin for today's reading selection.
To read the post tootle over to Barnes and Noble
To read the post about the Demos Parneros lawsuit tootle over to Parneros lawsuit
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