A report from TechCrunch says the software giant Microsoft has offered $1 billion to Barnes & Noble for their Nook Media eBook and Tablet. According to sources quoted within the TechCrunch article:
“Nook Media plans to discontinue its Android-based tablet business by the end of its 2014 fiscal year as it transitions to a model where Nook content is distributed through apps on “third-party partner” devices. Speculation about the plan to discontinue the Nook surfaced in February. The documents we have are not clear on whether the third-party tablets would be Microsoft’s own Windows 8 devices, tablets made by others (including competing platforms) or both. Third-party tablets, according to the document, are due to get introduced in 2014.”
Barnes & Noble and Microsoft partnered on a digital content and college business program last year, and Pearson purchased a 5% share of the Nook business, last year. Reports of the possible purchase sent Barnes & Noble stocks soaring over 24%.
There has been no confirmation from either company regarding the buyout.