From Insider Monkey:
Microsoft Corporation apparently didn’t really do anything, but Barnes & Noble, Inc. shares spiked last week with a rumor that floated which said that Microsoft, which owned a 17-percent stake in NOOK Media LLC – the Barnes & Noble subsidiary that creates the NOOK e-reader tablets and related content – was making a $1 billion offer to buy the entity outright and take it over.
. . . .
However, we at Insider Monkey received word from a highly placed source inside Microsoft Corporation who said that the story was only a rumor, and that nothing imminent is happening in regards to Microsoft and its investment in the NOOK Media entity, or reports that it is buying out Barnes & Noble, Inc. from the operation.
. . . .
“This deal was nothing more than a rumor. Microsoft Corporation will not come out and deny or confirm for legal reasons, but the company has no intention of acquiring the NOOK unit. NOOK is closely integrated with Android (hence their recent Google Play feature) and there is no way it could be ported to Windows 8. This was simply something TechCrunch rushed to report with no fact-checking.”
Link to the rest at Insider Monkey
For most of the people at Nook, this past few days will have been a real up-and-down experience.
Barnes & Noble has made no secret that it wants to sell Nook. That creates an air of uncertainty among Nook employees wondering what kind of new bosses they’ll have.
When the Microsoft rumor hit, people got excited or nervous, but many thought they would have jobs for awhile because of deep MS pockets. If the rumor is now quashed, they’ll feel pretty flat. This may make some prospective Nook purchasers look at the company as damaged goods.
It’s not a great time for morale in Nookville.