Barnes & Nobles (BKS) announced that it planned to spin off the Nook Media division, which also contains the company’s college bookstore business, by early next year. Barnes & Noble is betting that cleaving itself in two will assuage shareholders as sales continue to stagnate. Executives say that with the flow of red ink from both businesses slowly stanching, now is the time to act. “We’re encouraged by each of the businesses’ performance in 2013,” Michael P. Huseby, the retailer’s chief executive, said by telephone. Source: DealBook
Spin-Off
