I wonder how much value there was under goodwill – the intangible value of Barnes & Noble now that Liberty Media has offered to buy the bookseller in a deal valuing it at about $1 billion. It does not seem a Noble sum in my book…
Barnes & Noble shares were up 20% in after-hours trading on the news, matching the $17-a-share offer price from John Malone’s media empire.
The bookseller has been reviewing strategic alternatives, including a sale, since last summer.
The offer for the country’s largest bookstore chain represents a bold foray for Liberty into a new segment of entertainment products and signifies the growing significance of digital and online business in the book industry.