Nook Media draws $89.5M Pearson investment

From CNET News.com: Barnes & Noble's Nook Media unit has pulled in a fresh cash infusion, this time from book publisher Pearson.

The two companies announced today that Pearson will invest $89.5 million in cash in Nook Media, the B&N subsidiary that oversees the Nook e-reader, tablets, and digital store. The transaction will give Pearson a 5 percent stake, valued at approximately $1.789 billion, according to Barnes & Noble.

When the deal is finalized, Barnes & Noble will own just over 78 percent of Nook Media, Microsoft will hold just under 17 percent, and Pearson will have the remaining 5 percent. If it meets certain conditions, Pearson will be eligible to purchase up to an additional 5 percent stake.

In April, Microsoft invested $300 million in the Nook unit. "With a giant like Microsoft backstopping the Nook," CNET's David Carnoy wrote at the time, "consumers may now have more confidence that the Nook platform will indeed be here to stay."

The Pearson investment is surely intended to be another shot in the arm. Barnes & Noble said in its statement today that the deal will "accelerate customer access to digital content" and "facilitate improved discovery of available digital content and services, as well as seamless access." Given Pearson's expertise in the education sector, the new arrangement is geared at least in part toward online learning.

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