Summary Box: Barnes & Noble reports 4Q loss

AP News
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Posted: Jun 21, 2011 2:58 PM
Summary Box: Barnes & Noble reports 4Q loss

THE NEWS: Barnes & Noble reported a fourth-quarter loss of $1.04 per share, weighed down by spending to develop its Nook e-book reader and e-bookstore. Revenue rose 4 percent to $1.37 billion, boosted by higher online and college bookstore revenue.

THE CONTEXT: The largest U.S. traditional bookstore chain has been spending heavily on e-books in a race to stay afloat in a changing book landscape and against tough competition from discounters and online retailers.

WHAT'S NEXT: The company is considering a $1 billion takeover offer from media mogul John Malone's Liberty Media.