Barnes And Noble Shares Are Collapsing

Barnes and Noble shares are down nearly 14% after Liberty Media Corp., which bought a 17% “lifeline” stake in the firm, announced it was selling 90% those shares to institutional buyers, the AP reported.

It’s also giving up two board seats.

The bookseller said sales of its Nook reader fell 50% in fiscal Q3.

Shares were trading at $US19.05.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.