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.
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