(The company has 691 trade stores and 641 college stores.) "We're not changing the base number of the stores materially," he said. B&N CEO William Lynch told the New York Times that the digital business will remain closely linked to B&N's bricks-and-mortar stores. In its financial reporting, B&N will begin to break out Nook results from the rest of the business.
Microsoft is also paying $125 million (equal to $25 million over five years) 'for purposes of assisting NewCo in acquiring local digital reading content and technology development.' This, too, looks to be nonrefundable." The partnership is not exclusive, meaning B&N can create alliances with other companies. As TechCrunch noted about B&N's 8K filing with the SEC Monday: "Microsoft will be paying the Barnes & Noble subsidiary $180 million in connection with revenue sharing on the Nook app that B&N will make for the Windows 8 platform. Among noteworthy points that came out after the initial announcement: Besides the $300 million investment in the new joint venture, Microsoft is guaranteeing to pay another $305 million.
Not surprisingly, NewCo, the partnership between Barnes & Noble and Microsoft announced Monday morning, has received lots of press.
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