Publishing and education company Pearson PLC agreed to invest $89.5 million for a 5 percent stake in Barnes & Noble Inc.’s digital-business unit, Nook Media LLC.

Bookstore operator Barnes & Noble will now own 78.2 percent of Nook Media, and Microsoft Corp., which made a $300 million investment earlier this year, will own 16.8 percent. Pearson will also have the option to purchase up to an additional 5 percent interest in Nook Media, subject to certain conditions.

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Categorised as: Chief Digital Officer | Digital Media | Feedster

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