Barnes & Noble will let go of the stand-alone Nook app for Windows and instead deliver Nook media to Microsoft's Consumer Reader app, BloombergBusinessweek News reports. Microsoft has agreed to the updated revenue sharing strategy with the New York bookstore chain. The software firm has a 6.8 percent share in the Nook unit in 2012.
The amended partnership of the two companies lets Nook Media, Barnes & Noble's subsidiary, stop the distribution of Windows e-book software. For the bookworms, they are not left out, but rather steered towards the Microsoft Consumer Reader app.
Barnes & Noble filed with Securities and Exchange Commission late Thursday, March 13, saying it will stop distributing the app for Nook Windows, and will cooperate with Microsoft instead in the users transition to Microsoft Consumer Reader.
There are high speculations on the plans of the bookstore chain for the Nook's future. It has heavily invested in e-book and e-book reader units, which turned out unprofitable. Still, the company said it plans to introduce a new Nook e-reader in the coming months.
An investment company offered to purchase 51 percent of Barnes & Noble for about $672 million a few weeks earlier, with plans to form Nook. Barnes & Noble rejected the offer.
Barnes & Noble reported its latest third quarter, as cost cuts at the Nook unit and elsewhere contributed to offset revenue across all businesses. Revenue fell from $2.2 billion last year to $2 billion, or 10 percent. In the morning trading, its shares rose 21 cents to $21.61. The stock spiked 43 percent since the start of the year.