Douglas County – It’s not all about the Nook.
In his first public comments since launching a bid for Barnes & Noble, Liberty Media chairman John Malone said he believes the distressed bookseller’s stores have a bright future.
“There will be a physical presence for a long, long time to come,” Malone said today at a special shareholders meeting near Liberty Media’s headquarters. “And it will be a profitable physical presence.”
Analysts speculated last week that the cable-TV pioneer’s primary interest in Barnes & Noble lies with the company’s Nook e-reader and digital media sales.
Indeed, the Nook and Barnes & Noble’s vast digital library played a key role in attracting an offer from Liberty Media last week. The bid values Barnes & Noble at about $1 billion.
Liberty Media chief executive Greg Maffei said today that Barnes & Noble controls 20 percent of the e-book market and 25 percent of the e-reader market. He also said Barnes & Noble is expected to unveil a new version of the Nook on Tuesday.
Maffei highlighted Apple’s storefront business, where it incorporates online sales, as a model for Barnes & Noble going forward.
Malone and Maffei are high on Google’s Android operating system, which powers the Nook e-readers. Malone said he believes Android will dominate the e-reader and tablet-computer markets.
Barnes & Noble operates 705 bookstores and a subsidiary operates 636 college bookstores. Traditional booksellers have struggled amid the rise of online retailers such as Amazon and as more readers turn to e-books. Barnes & Noble put itself up for sale last year and rival retail chain Borders filed for bankruptcy in February.
Andy Vuong: 303-954-1209, avuong@denverpost.com or
