Barnes & Noble Completes Spin-Off of Barnes & Noble Education
03 August 2015 - 3:30PM
Business Wire
Barnes & Noble Education, Inc. Becomes
Separate Public Company Listed on New York Stock Exchange
Company Leadership, Store Managers Ring
Opening Bell at NYSE
Barnes & Noble, Inc. (NYSE:BKS), today
announced that it has completed the separation of its Retail and
College businesses. Barnes & Noble Education, Inc. is now an
independent public company and the parent of Barnes & Noble
College, trading on the New York Stock Exchange under the ticker
symbol, “BNED.” The Company’s leadership team joined with store
managers to ring the opening bell at the NYSE this morning to mark
the milestone.
“This is an exciting day in the history of Barnes & Noble
College,” said Max J. Roberts, Chief Executive Officer, Barnes
& Noble Education. “We are an industry leader with 724 campus
stores serving colleges and universities and more than 5 million
students and their faculty across the country. As a separate public
company, we believe we are well positioned to take advantage of
future growth opportunities and enhance our services for our
current and future customers.”
Following today’s spinoff of College, Michael Huseby, former
Chief Executive Officer of Barnes & Noble, Inc., became
Executive Chairman of Barnes & Noble Education, which will have
a separate Board of Directors. As previously announced, Ronald D.
Boire will take over as Chief Executive Officer of Barnes &
Noble, Inc. effective September 8, 2015.
Under the terms of the separation, stockholders who held BKS
common stock on July 27, 2015 (the “Record Date”) received a
distribution of 0.632 BNED common share for every one share of BKS
common stock held as of the record date.
About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE: BKS) is a Fortune 500 company
and the leading retailer of content, digital media and educational
products. The Company operates 648 Barnes & Noble bookstores in
50 states, and one of the Web’s largest e-commerce sites, BN.com
(www.bn.com). The NOOK digital business offers award-winning NOOK®
products and an expansive collection of digital reading and
entertainment content through the NOOK Store® (www.nook.com).
General information on Barnes & Noble, Inc. can be obtained
by visiting the Company's corporate website:
www.barnesandnobleinc.com.
Barnes & Noble®, Barnes & Noble Booksellers® and Barnes
& Noble.com® are trademarks of Barnes & Noble, Inc. or its
affiliates.
For more information on Barnes & Noble,
follow us on https://twitter.com/BNBuzz,
http://instagram.com/barnesandnoble and
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https://www.facebook.com/barnesandnoble.
About Barnes & Noble Education,
Inc.
Barnes & Noble Education, Inc. (NYSE:BNED)
enhances the academic and social purpose of educational
institutions. Through its Barnes & Noble College subsidiary,
Barnes & Noble Education serves more than 5 million college
students and their faculty through its 724 stores on campuses
nationwide, delivering essential educational content and tools
within a dynamic retail environment. The company is at the
forefront of digital education with its digital education platform,
Yuzu®, weaving together digital learning materials to enhance the
teaching and learning experience. Barnes & Noble Education acts
as a strategic partner to drive student success; provide value and
support to students and faculty; and create loyalty and retention,
all while supporting the financial goals of college and university
partners.
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version on businesswire.com: http://www.businesswire.com/news/home/20150803005100/en/
Barnes & Noble, Inc.:Mary Ellen Keating,
212-633-3323Senior Vice PresidentCorporate
Communicationsmkeating@bn.comorAndy Milevoj, 212-633-3489Vice
PresidentInvestor Relationsamilevoj@bn.comorBarnes & Noble
Education, Inc.:Carolyn Brown, 908-991-2967Vice
PresidentCorporate Communicationscbrown@bned.comorTom Donohue,
908-991-2966Vice PresidentInvestor Relations and
Treasurertdonohue@bned.com
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