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Barnes And Noble Shares Are Collapsing

Rob WileApr 3, 2014, 21:10 IST

Barnes and Noble shares are down nearly 14% after Liberty Media Corp., which bought a 17% "lifeline" stake in the firm, announced it was selling 90% those shares to institutional buyers, the AP reported.

It's also giving up two board seats.

The bookseller said sales of its Nook reader fell 50% in fiscal Q3.

Shares were trading at $19.05.