Liberty Media Corp. (NASDAQ:LMCA) Announces Sale Of Stake In Barnes & Noble
Boston, MA 04/04/2014 (wallstreetpr) Liberty Media Corp. (NASDAQ:LMCA) is all set to shed almost 90% of its stake in booksellers Barnes & Noble, Inc. John Malone had tried to take control of the company around three years ago but that investment strategy will stand reversed in about a week from now. The booksellers stock […]
The booksellers stock prices dipped as much as 14% after the news broke out.
The new deal
Liberty Media Corp. (NASDAQ:LMCA), which is a Douglas County-based entertainment firm, will only own 10% of what it did, the company announced.
CEO, John Maffei will leave the board of directors at Barnes & Noble immediately, after the closure of the stock sale that might take place on April 8. However, Mark Carleton, who is Liberty Media senior vice president, will continue to serve in the Barnes & Noble board. ...