Microsoft’s Investment in Nook Really Totals $605 Million Over Five Years
Reading the fine print of the agreement between Microsoft and Barnes & Noble, the Wall Street Journal has determined that Microsoft is, in fact, investing $605 million in the Nook business over the next five years (Microsoft to Invest in Barnes & Noble’s Nook):
Microsoft Corp. is investing at least $605 million in Barnes & Noble Inc.’s Nook digital-book business, as the software giant pushes deeper into the e-books business and props up a rival to the iPad and Amazon’s Kindle.
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In addition to a $300 million investment Microsoft announced Monday in the new subsidiary, Microsoft also pledged to dole out $180 million—or $60 million a year for three years—to the subsidiary in the form of revenue-sharing guarantees, according to a copy of the contract filed Monday with the Securities and Exchange Commission.
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Microsoft also pledged $25 million a year over five years, or $125 million, to assist in NewCo’s planned international expansion, according to the companies’ contract. The agreement says the money is earmarked to assist the Barnes & Noble business “in acquiring local reading content and technology development.”
Read much more at WSJ.com.
I was glad to see someone join forces with Barnes and Noble on this. I am a huge fan of my Nook and was getting a little concerned it wouldn’t be around much longer.
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Interesting news. Sounds like we will get more electronic gadgets similar to Amazon Kindle and Barnes & Noble Nook. Not bad at all.
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