Microsoft Would Reportedly Pay $1 Billion for Nook's Digital Assets | Adweek Microsoft Would Reportedly Pay $1 Billion for Nook's Digital Assets | Adweek
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Microsoft Would Reportedly Pay $1 Billion for Nook's Digital Assets

Company plans to discontinue its Android tablets

Microsoft is willing to pay $1 billion for Nook Media's digital assets, Tech Crunch reported, citing internal company documents.

Since the story broke early today, Barnes & Noble shares jumped 18 percent in morning trading. 

Last year, Microsoft paid $300 million for a 17.6 percent stake in Nook Media, which has been valued at $1.8 billion. The cost of maintaining the Nook division has long been weighing on Barnes & Noble's retail arm and the company plans to split its digital and brick-and-mortar assets.

The documents Tech Crunch obtained reveal that Nook Media plans to discontinue its Android tablets. The Nook has been crushed in the tablet market with competition from the Amazon Kindle and the iPad.

It is not clear from the documents whether Microsoft and Barnes & Noble have reached a deal. The documents appear to be several weeks old and if a deal occurs it will not be for another several weeks, The New York Times reported.

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