Barnes & Noble Inc. (BKS) announced Friday morning that Pearson (PSO) 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 open higher Friday and has continued to rise in early trade. Shares are now up 1.06 at $15.41 on above average volume. The stock has climbed to a 1-week high and has re-crossed its 50-day moving average.
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