Barnes & Noble stakeholder Liberty Media announced it would be shrinking its stake in the bookseller to about 10 percent of its initial investment. On top of the failure of the Nook e-reader and declining retail sales, can Barnes & Noble weather this latest bit of bad news?
Barnes & Noble is having a Tuesday it would rather forget. On the heels of another disappointing earnings report for the bookseller, Barnes & Noble's chairman and largest investor is ending his bid to buy up the company's bookstores.
Barnes & Noble CEO William Lynch resigned after the company reported disappointing fourth-quarter numbers. The bookstore chain also recently announced that it's seeking another company with which to produce the B&N Nook tablet devices.
Stocks saw their worst decline in months Monday as Italy heads for political disarray. As stocks plunged, gauges of market sentiment indicated that investors were becoming more risk-averse and parking their money in defensive assets.
Barnes & Noble buyout may be in the works, as the bookseller's founder and CEO has said he is going to try and buy the company's retail business. Shares soared 17 percent amid rumors of the Barnes & Noble buyout.