Barnes & Noble announced a separation of its college business from its retail and Nook digital business. The planned separation will result in two independent, publicly traded companies, to be completed by the close of August, 2015.
The company believes that the separation of Barnes & Noble Education will allow each business to optimize opportunities and benefit from the clarity of separate management.
Barnes & Noble bought back its stake in the Nook e-reader from Pearson PLC for $28 million at the end of 2014. The company split into two separate segments back in June, separating Nook business from retail.
Max Roberts, CEO of the College management team, will continue to lead the company's new branch as it works with on-campus partners.
"Separating Barnes & Noble Education will create an industry-leading, pure-play public company with more flexibility to pursue strategic opportunities in the growing educational services markets," said Michael Huseby, CEO of Barnes & Noble. "At the same time, Barnes & Noble will be able to better capitalize on improving industry trends and merchandising initiatives within its core retail business. Retail and the Nook digital business will be able to leverage a more integrated technology infrastructure for improved efficiency and to better serve digital customers."
-See this Barnes & Noble press release
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