B&N to buy back Pearson's Nook shares

Barnes & Noble is to buy back the stake Pearson acquired in its Nook Media business for $27.7m in cash and stock, ahead of a division of the business in 2015, the Wall Street Journal has reported.

The split follows that between B&N and Microsoft earlier this month.

Pearson took a 5% stake in Nook Media in 2013 for $89.5m. The WSJ says B&N's split into two businesses - one with consumer stores, the other with college bookstores and Nook - is now not expected until August 2015.