NOOK Media Announces the Completion of Strategic Investment by Pearson

NEW YORK & LONDON--(BUSINESS WIRE)--NOOK Media, LLC, a subsidiary of Barnes & Noble, Inc. (NYSE: BKS), the leading retailer of content, digital media and educational products, today announced the completion of their previously announced investment by Pearson (NYSE:PSO), the world’s leading learning company. Pearson made its approximately $89.5 million in cash investment in NOOK Media, LLC at a post-money valuation of approximately $1.789 billion in exchange for preferred membership interests representing a 5% equity stake. Following the closing of the transaction, Barnes & Noble now owns approximately 78.2% of the NOOK Media subsidiary and Microsoft, which also holds preferred membership interests, owns approximately 16.8%. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent ownership in NOOK Media.