Barnes & Noble Chairman Wants to Take Company Private
February 26, 2013 10:52 AM
comment(s) - last by
The company chairman is in talks with Barnes & Noble's board right now
Leonardo Riggio purchased the Barnes & Noble bookstore chain over 40 years ago. Riggio is now talking about taking a page out of
Michael Dell's playbook
and possibly trying to take Barnes & Noble private. Barnes & Noble continues to struggle in the retail books market and is facing stiff competition with its
line of digital readers as well
Riggio says that he will bid for the company's bookstore, online business, and other retail assets. However, he is specific in stating that he is not interested in purchasing Nook Media, the arm of the company that makes and sells the Nook eReaders.
Riggio is the largest shareholder in Barnes & Noble with nearly 30% of the company to his name. He is also the company's acting chairman. Riggio says that he will speak with the board and try to come to a fair price for the purchase, which is expected to be mostly cash. No further details are available on the move at this time.
Barnes & Noble is currently under extreme pressure with its core retail sales declining 1.5% to $4.9 billion during the last fiscal year. Much of the pressure is coming from online retailers such as Amazon, eBay, and others.
This article is over a month old, voting and posting comments is disabled
Whats the definition of crazy again?
2/26/2013 12:31:48 PM
Every time I walk into B&N I find the exact same books on the shelf as I always have. They don't update stock, or even rotate it. They just peddle the same crap as always. So I always walk out with out a book. In fact I was in a Barnes and Nobles three times in the last year. and one of those was just to kill time. I never find what I'm looking for so I always go online. They need to completely overhaul their sales model and business plans if they want to stay relevant. Other wise they will soon follow their younger brother to the grave.
RE: Whats the definition of crazy again?
2/26/2013 4:19:57 PM
Rotate into what? The store is large enough to stock all the best selling books. Sorry but rotating into other stock would just mean rotating into books that have very low sales figures.
"It looks like the iPhone 4 might be their Vista, and I'm okay with that." -- Microsoft COO Kevin Turner
Report: Dell May be Going Private
January 14, 2013, 8:34 PM
Barnes and Noble Takes Jabs at Amazon with Nook HD, HD+ Tablets
September 26, 2012, 5:53 AM
Google's Gleaming Glass HQ Gets Mountain View Snub, LinkedIn Gets the Love
May 7, 2015, 6:58 AM
Tech's Tax Day Fortunate Few: Qualcomm, Xerox, GE, et al. Pay Little or No Taxes
April 15, 2015, 11:30 AM
LinkNYC Terminals to Blanket New York City With Free WiFi, Free Calls, and Ads
November 17, 2014, 6:50 PM
Microsoft is Open-Sourcing Most of .NET, Adding OS X and Linux Support
November 12, 2014, 8:27 PM
Home Depot Lost 53 Million Emails, Blames Windows, Buys Execs New Macs
November 9, 2014, 5:00 PM
Former NSA Lawyer: If Google, Apple Encrypt User Data, They’ll Wither on the Vine Like Blackberry
November 6, 2014, 12:15 PM
Most Popular Articles
America's Largest Cable Company, Comcast, Sees Internet Subscriptions Pass TV
May 4, 2015, 2:46 PM
Can id Software's Doom Find Its Way Out of a 7+ Year Development Hell?
May 19, 2015, 7:38 PM
Oculus Rift Confirms "Pause" in OS X, Linux Development, Some Devs are Mad
May 18, 2015, 11:36 PM
Oculus Rift and Compatible Gaming Rig Will Likely Cost $1,000 or More
May 15, 2015, 3:50 PM
Seagate Senior Researcher: Heat Can Kill Data on Stored SSDs
May 13, 2015, 2:49 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information