UK’s Pearson to buy 5 percent stake in Nook, shares up

(Reuters) – British education and media publisher Pearson Plc has agreed to acquire a 5 percent stake in Barnes & Noble Inc’s Nook Media unit for $ 89.5 million, sending shares of the bookstore operator up as much as 9.7 percent on Friday. The Nook Media unit comprises Barnes & Noble’s digital businesses — including the Nook e-reader and tablets and the Nook digital bookstore — and 674 college bookstores across the United States. Pearson is the owner of the Financial Times newspaper and the Penguin Group publishing house. …

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