Why is a media savvy investor like John Malone interested in taking over Barnes & Noble? The day after B&N announced that would be releasing a new e-reader , John Malone, chairman of Liberty Media (QVC, DIscovery Channel, USA, Encore, Starz, etc.) offered to buy 70% of B&N for about $1 billion. Malone, like others, are enthralled with the future of e-books, sales of which are growing faster than many predicted.
Even Waterstone’s, Great Britains equivalent of B&N, was sold this week to a Russian businessman.
You’ll look in vain for details about the new e-reader in the story on B&N. Apparently what it can do that the current Nook can’t is less important than trumpeting the growth in e-book sales.