Barnes & Noble Shares Rise On Plan To Separate Stores From Nook Media

The stock is up 7.3% in pre-market trading after the book retailer said that it plans to split Nook Media into a separate, publicly traded company. The businesses “will have the best chance of optimizing shareholder value if they are capitalized and operated separately,” Barnes & Noble CEO Michael Huesby says. The plan still needs to be approved by regulators, and the company says it could change course if  it can’t raise enough funding or the markets shift. B&N has hired Guggenheim Securities to provide financial advice, and Cravath, Swaine & Moore to handle legal matters.

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