BUSINESS BRIEFING / BOOKS
Times Wire Reports
Bookseller Barnes & Noble Inc. said it would buy Barnes & Noble College Booksellers from its chairman in a deal worth $596 million.
The deal will cost Barnes & Noble $460 million after accounting for College Booksellers’ cash on hand at the expected closing date.
The purchase will boost full-year earnings, reunite Barnes & Noble’s brand and eliminate annual royalty payments for online textbook sales.
