Pearson PLC, which owns book publisher the Penguin Group, has announced that it has agreed to pay $89.5 million (£55.5 million) for a 5% stake in Nook Media, the company owned by US book chain Barnes & Noble (B&N) which produces a series of e-readers and tablets.
Commenting on the new agreement, Will Ethridge, chief executive of Pearson North America said “Pearson and Barnes & Noble have been valued partners for decades, and in recent years both have invested heavily and imaginatively to provide engaging and effective digital reading and learning experiences“.
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