Barnes & Noble said yesterday that the FTC has granted early termination of the waiting period under the Hart-Scott-Rodino Act, clearing the way for Liberty Media’s $204 million investment in the retailer. Under the terms of the investment, Liberty purchased preferred stock, convertible into approximately 12 million shares or 16.6% (after giving effect to the issuance) of B&N’s common stock at a price of $17 per share.
Liberty has also elected two nominees to B&N’s board, which will be expanded to 11 members to include Gregory B. Maffei, Liberty Media’s president and CEO and Mark D. Carleton, senior v-P of Liberty.
Separately, B&N said that beginning October 3 Radio Shack will begin selling its line of Nook e-reading devices, which will retail starting at $139.
