Judge Martin Glenn, who is overseeing Borders’s bankruptcy, gave his approval Monday to the $13.9 million sale of the defunct chain’s intellectual property to Barnes & Noble. B&N had won the auction for the assets, which includes Borders’s membership list as well as the Borders Web site and other domestic trademarks, earlier this month, but final approval was held up over privacy concerns.
Under the deal, customers have 15 days to opt out transferring the membership list from Borders to B&N by responding to an e-mail that will be sent when the deal closes. DVD and video purchases are not included in the deal. No date for a closing has been set, though all parties expect to complete the agreement as soon as possible.
