We've talked a lot about the Barnes & Noble's struggle to get market share for its NOOK products. The company has gone from developing it's own hardware to basically offering a branded Samsung Galaxy Tab 4 to try to lure consumers away from the Amazon and Apple ecosystems.
In 2012 Microsoft invested $300 million in the NOOK division. Yesterday Barnes & Noble announced that they have terminated their agreement with Microsoft and agreed to acquire Microsoft's interest in NOOK Media. Microsoft is selling its interest for "$62,425,006.63 in cash and 2,737,290 shares of common stock."
TechCrunch ran the numbers and figured that the told cost for Barnes & Noble will be $119.6 million. That means Microsoft lost $180.4 on the deal, or $188,331 per day. Ouch.
This deal makes it easier for Barnes & Noble to spin off the NOOK division, which they say could now happen as early as the end of August 2015.
Barnes & Noble's latest quarterly numbers show NOOK numbers down 41.3% when compared to last year. That's both hardware and digital content. Hardware was down 63.7% and digital content was down 21.2%.