Barnes & Noble will cut its Nook loose, separating the floundering e-reader and struggling e-book business from its comparatively healthy brick-and-mortar stores.
The pending split, a long time coming, is now officially in the works. Barnes & Noble and Nook Media will be two different entities.
"We have determined that these businesses will have the best chance of optimizing shareholder value if they are capitalized and operated separately," Barnes & Noble Chief Executive Michael P. Huseby said in a statement Wednesday.
The company's board has approved the separation, which was announced along with its year-end financial results. Barnes...