Barnes & Noble to Separate Retail, Nook Media

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Barnes & Noble is going to split its retail and Nook Media businesses into two separate public companies as it looks to boost shareholder value. The bookseller's stock jumped more than 7 percent in Wednesday premarket trading. The company's retail business includes its bookstores and businesses. Nook Media, in which Microsoft Corp. is an investor, houses the digital and college businesses of Barnes & Noble. Barnes & Noble has been trying to turn itself around as competition from discount stores and online retailers toughens, and as readers shift away from traditional books to digital formats. The company spent years investing heavily in its Nook e-book reader and e-book library, but they struggled to be profitable. In December, Barnes & Noble said it was evaluating the future of its tablets, but it still offered a new non-tablet e-book reader during the holiday season.



--- The Associated Press