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Barnes & Noble CEO Lynch Out After Nook Woes Deepen (Forbes)
Another dreary chapter for Barnes & Noble came to a close Monday with the resignation of chief executive William Lynch, the man brought on board to build the company’s tablet business. Officially, Barnes & Noble offered no explanation for Lynch’s departure. It’s not difficult to read between the lines, though. Lynch, a one-time Palm executive, was unable to push Barnes & Noble into the tablet business, a market heavily dominated by Apple’s iPad, and to a far lesser extent, Amazon.com’s Kindle. NYT The moves on Monday appeared to be a step toward separating the digital and retail divisions, as the company has indicated it might do. Barnes & Noble has been in talks over a potential sale of its digital assets, as well as its 675 bookstores. Microsoft is one potential buyer of the Nook business; last year it invested hundreds of millions of dollars to acquire 17.6 percent of the division. TechCrunch E-readers never managed to beat back competition from the ever-strong Amazon, and the move into Nook tablets, based on Android, never quite hit the mark, either — a position that only seemed to get worse over time. Barnes & Noble’s last quarter saw the company report a loss of nearly $119 million, more than double the loss in the quarter a year before. The Nook division specifically, the thing on which B&N has pinned its future, made only $108 million in revenue in that period, a 34 percent drop from a year ago. GalleyCat “I appreciate the opportunity to serve as CEO of this terrific company over the last three years,” said Lynch in a statement. “There is a great executive team and board in place at Barnes & Noble, and I look forward to the many innovations the company will be bringing to its millions of physical and digital media customers in the future.” Read more
Posts Tagged ‘Nook’
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Vogue is now available digitally. Starting today, the fashion magazine can be downloaded on the Nook, Nook Color, Kindle Fire and iPad. To make the launch enticing, each platform is offering free trials and Vogue’s print and digital editions are available now for only $19.99, over 50 percent off the cover price.
The digital launch coincides with Vogue’s April issue, featuring Jennifer Lopez or J. Lo or whatever the hell she likes to be called now. In a profile by Jonathan Van Meter, Lopez reveals that she wears a diamond ring that spells, “I love me.”
Jenny From The Block, everyone!
The New York Times and Barnes & Noble have teamed up for quite a deal. From now until March 9, you can get a free Nook Simple Touch or a discounted Nook Color ($99, a $100 discount) when you sign up for a year subscription to the Times.
The subscription package for the Times will run you about $240, but if you’re in the market for an e-reader, this is a great way to get one. And even if you’re not, it’s a great way to get a Nook and then send it to an editor at a blog that you read. Just an idea.
- TVNewser: Anderson Cooper dishes more details about his new daytime show. OH THANK GOD SOMEONE IS FILLING THE OPRAH VOID.
- eBookNewser: A group of Pennsylvania fifth graders were given Nooks to use to complete their summer reading lists. The students were reportedly excited, noting that the Nooks could be used as frisbees and/or “something to dig with.”
- GallleyCat: “Several bidders” in line to purchase Borders book stores have separated themselves from the pack by expressing a deep desire to lose a lot of money.