LONDON--Pearson PLC (PSON.LN), a publishing and education
company, Friday announced that it will make a strategic investment
of 89.5 million dollars in cash in NOOK Media LLC, a new company
consisting of Barnes & Noble's (BKS) digital businesses
including NOOK e-reader and tablets, the NOOK digital bookstore and
674 college bookstores across America.
MAIN FACTS:
-Will gain 5% equity stake in NOOK Media.
-Following the transaction, Barnes & Noble will own 78.2% of
NOOK Media and Microsoft (MSFT) will own 16.8%.
-Subject to certain conditions, Pearson will earn the option to
purchase up to an additional 5% ownership in NOOK Media.
-Shares of Pearson at 1348 GMT down 4 pence, or 0.3%, at 1192
pence.
-Write to Tapan Panchal at tapan.panchal@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires