Barnes & Noble Inc. (BKS: Quote) announced Friday morning that Pearson (PSO: Quote) has agreed to make a strategic investment of $89.5 million in cash in NOOK Media LLC, in exchange for preferred membership interests representing 5% equity stake.
Barnes & Noble gapped up Friday and rose during the first half hour of trade, before settling into a range. Shares finished up by 0.62 at $14.97 on above average volume. The stock rebounded off of the lower end of a 2 1/2 month trading range.
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by RTT Staff Writer
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