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Barnes & Noble, Microsoft team up on Nook

NEW YORK (AP) — Books and bits united Monday as Microsoft provided an infusion of money to help Barnes & Noble compete with top electronic bookseller Amazon. In exchange, Microsoft gets a long-desired foothold in the business of e-books and college textbooks.

A Barnes & Noble Nook Color eReader, left, is shown next to a Nook Simple Touch eReader, right, on display at a Best Buy in Mountain View, Calif., Monday, April 30, 2012. An infusion of money from Microsoft Corp. sent Barnes & Noble Inc.'s stock zooming Monday, as the software giant established a way to get back into the e-books business. The two companies are teaming up to create a subsidiary for Barnes & Noble's e-book and college textbook businesses, with Microsoft paying $300 million for a minority stake. (AP Photo/Paul Sakuma)
A Barnes & Noble Nook Color eReader, left, is shown next to a Nook Simple Touch eReader, right, on display at a Best Buy in Mountain View, Calif., Monday, April 30, 2012. An infusion of money from Microsoft Corp. sent Barnes & Noble Inc.'s stock zooming Monday, as the software giant established a way to get back into the e-books business. The two companies are teaming up to create a subsidiary for Barnes & Noble's e-book and college textbook businesses, with Microsoft paying $300 million for a minority stake. (AP Photo/Paul Sakuma)Read more
    by Peter Svensson, AP Technology Writer
    Published