Bookseller to separate digital division
Katie Morhen, 06 Jan 2012 10:08
The number one bookseller in the US is looking to separate its digital division in an effort to capitalise on the success of its e-reader, it was announced yesterday (January 5th).
Barnes & Noble has revealed the rapid advancement of its Nook business has prompted it to pursue a strategic plan to divide its digital platform from the chain.
Chief executive officer William Lynch said in a statement: “We see substantial value in what we’ve built with our Nook business in only two years.
“We believe it’s the right time to investigate our options to unlock that value.”
He added that the group expects its Nook business to achieve comparable sales of $1.5 billion in 2012, and it is in talks with publishers, technology companies and retailers about expanding its e-reader division abroad.
During the nine-week period ending December 31st, the Nook business increased its sales by 70 per cent, compared to the same period last year.
According to a recent report from the Wall Street Journal, Barnes & Noble is believed to be selling Sterling Publishing as part of its efforts to drive its digital division forward.
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