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BN, Microsoft Form Nook Media

New York – Barnes & Noble and Microsoft finalized a deal today that has the two firms teaming up to create a new company focused on the digital reading and education markets.

The new Nook Media LLC is formed from BN’s digital book and college businesses, and it includes a $300 million investment by Microsoft, announced last April. BN’s digital book business includes Nook hardware and digital book sales.

BN believes the partnership with Microsoft will help the company take advantage of new technologies, such as Windows 8.

Nook Media at this time remains a BN subsidy, and the bookseller is retaining its investment options for Nook Media. One possibility could result in it being spun off into a stand-alone company.