No Buyer Will Scoop Up Barnes and Noble

More

For some months, Barnes and Noble has been searching for a buyer. The company has struggled to compete in recent years with online book sellers like Amazon. The e-reader revolution has also began to cut into its physical book sales, as its Nook's success has been modest. But sources indicate that U.S.'s largest bookstore chain may end its search for a buyer without an offer it will accept. Jeffrey McCracken, Matt Townsend, and Jonathan Keehner at Bloomberg report:

Private-equity firms and strategic bidders have backed away from the auction, said the people, who asked not to be identified because negotiations aren't public. Interest from at least seven potential buyers waned after the first round of bidding, the people said.

The auction isn't over and will probably last a few more weeks before the company officially calls off the search, one person said. Mary Ellen Keating, a spokeswoman for New York- based Barnes & Noble, said the process is still ongoing and declined to comment further.

If it doesn't find a buyer, then the company will have to rework its strategy to convince investors that it can survive in the rapidly evolving market for books.

Read the full story at Bloomberg.

Jump to comments
Presented by

Daniel Indiviglio was an associate editor at The Atlantic from 2009 through 2011. He is now the Washington, D.C.-based columnist for Reuters Breakingviews. He is also a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. More

Indiviglio has also written for Forbes. Prior to becoming a journalist, he spent several years working as an investment banker and a consultant.
Get Today's Top Stories in Your Inbox (preview)

Adventures in Legal Weed

Colorado is now well into its first year as the first state to legalize recreational marijuana. How's it going? James Hamblin visits Aspen.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Adventures in Legal Weed

Colorado is now well into its first year as the first state to legalize recreational marijuana. How's it going? James Hamblin visits Aspen.

Video

What Makes a Story Great?

What makes a story great? The storytellers behind House of CardsThis American LifeThe Moth, and more reflect on the creative process.

Video

Tracing Sriracha's Origin to Thailand

Ever wonder how the wildly popular hot sauce got its name? It all started in Si Racha.

Video

Where Confiscated Wildlife Ends Up

A government facility outside of Denver houses more than a million products of the illegal wildlife trade, from tigers and bears to bald eagles.

Video

Is Wine Healthy?

James Hamblin prepares to impress his date with knowledge about the health benefits of wine.

Video

The World's Largest Balloon Festival

Nine days, more than 700 balloons, and a whole lot of hot air

Writers

Up
Down

More in Business

Just In