Barnes & Noble Buying Bertelsmann’s Dot-Com Stake

Barnes & Noble, the top U.S. books retailer, will pay $164 million to buy a stake that German media firm Bertelsmann has decided to sell, in its online subsidiary BN.com.

Rising competition pressured barnesandnoble.com as Amazon.com continued to increase its lead on Internet book selling. Even so, Barnes & Noble said in a statement that barnesandnoble.com remains on track to produce positive cash flow in the fourth-quarter, as well as for 2004.

Comments have been disabled for this post