Barnes & Noble.com and Barnes & Noble, Inc. Acquire Majority Stake in enews; Bookseller Plans to Extend Magazine Subscription Service to Retail Stores.Business Editors NEW YORK--(BUSINESS WIRE)--April 5, 2001 Barnes & Noble.com (Nasdaq: BNBN) (www.bn.com) announced today that it has increased its investment in enews, the largest retailer of magazine subscriptions on the Internet, and together with a new investment by Barnes & Noble, Inc. (NYSE NYSE See: New York Stock Exchange : BKS BKS Barracks BKS Best Kept Secret (gaming) BKS Bildung, Kultur Und Sport (German) BKS Brookside (city) BKS Bergen Kirurgiske Sykehus (Bergen, Norway) ), the booksellers now a hold a majority interest in the company. enews is the Internet's leading destination for subscriptions to more 100,000 consumer and specialty magazines, newsletters and newspapers. In addition to selling directly through its Web site, enews has powered the Barnes & Noble.com magazine store on an exclusive basis since March 1998. The transaction will facilitate the incorporation of magazine subscriptions into the bookseller's 569 superstores This is a list of superstores by country. Multi-national
"Our majority interest in enews provides Barnes & Noble with a powerful marketing and e-commerce platform," said Steve Riggio, vice chairman of Barnes & Noble.com. "We intend to create a variety of exciting new marketing opportunities for magazine publishers as the Barnes & Noble network of retail stores and Web site represents an unequalled opportunity for them to reach a prime demographic audience of upscale and educated shoppers." "Acquiring a majority stake in enews is consistent with our strategy to remain focused on the physical and digital delivery of information products," Mr Riggio said. "Magazines have always been an important component of the product mix of our retail stores and Web site, and acquiring a majority stake in enews will enable us to take it to the next level. Additionally, the enews commerce platform positions us well in the emerging market for broadband wireless See wireless broadband. devices, as we will be able to deliver magazine content digitally." "With strong financial and strategic support from the Barnes & Noble family of companies, we can expand our ability to innovate in·no·vate v. in·no·vat·ed, in·no·vat·ing, in·no·vates v.tr. To begin or introduce (something new) for or as if for the first time. v.intr. To begin or introduce something new. and serve our publishers, customers and marketing partners," said Brian Hecht, chief executive officer and president of enews. "Our expanded relationship with them gives us the opportunity to serve a new segment of the Barnes & Noble customer base, the most desirable retail demographic in the country." The terms of the enews transaction were not disclosed. Barnes & Noble.com has held a stake in enews since December 1999. A number of the original investors in enews will retain a minimal stake in the company. enews will retain its strategic relationships with major magazine publishers, marketing partners and its network of more than 85,000 affiliates, and the enews Web site, www.enews.com, will continue to serve customers. About enews enews, which is majority owned by Barnes & Noble.com and Barnes & Noble, Inc., is the leading Web-based marketer of magazine subscriptions, offering subscriptions to more than 100,000 magazines, newsletters, and newspapers from hundreds of publishers, including every major U.S. magazine publisher. The company was founded in 1993 and has offices in Rosslyn, Virginia Rosslyn is an unincorporated area located in the northeastern corner of Arlington County, Virginia, north of Arlington National Cemetery and directly across the Potomac River from Georgetown in Washington, D.C. and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . The company markets through its flagship Web site, enews.com, major private-label partners such as Barnes & Noble.com, and more than 85,000 affiliates in its Newsstand Network. In the past year, enews has been cited by Media Metrix as both the No. 1 and No. 2 fastest-growing e-commerce site as measured by average daily visitors, by PC Data as the 8th largest e-commerce site on the Web and as a "Top 100 Web Site," and by Nielsen/NetRatings as the 15th Top Advertiser on the Web. About Barnes & Noble.com Barnes & Noble.com is an Internet commerce company offering a comprehensive range of books and related information products. With more than seven million unique visitors A count of how many different people access a Web site. For example, if a user leaves and comes back to the site five times during the measurement period, that person is counted as one unique visitor, but would count as five "user sessions. per month to its Web site, the company has the largest audience reach of any brick and mortar See bricks and mortar. company with an Internet presence. It stocks the largest in-stock selection of in-print book titles, supplemented by more than 20 million listings from its nationwide network of out-of-print, rare and used book dealers. Its college textbook textbook Informatics A treatise on a particular subject. See Bible. store offers a vast selection of new and used textbooks and its recently introduced eBookStore has established the company as a leader in the delivery of digital content and intellectual property. Barnes & Noble.com's excellence in e-commerce extends to the music business, where it was cited by Forbes.com as the No. 1 music site on the Web, for being "best-of-class for anyone who wants to learn about the music they're buying." The company's product ranges now include a full complement of information products, including DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. and video. The company's focus on information products is manifest manifest 1) adj., adv. completely obvious or evident. 2) n. a written list of goods in a shipment. MANIFEST, com. law. A written instrument containing a true account of the cargo of a ship or commercial vessel. 2. in its recently launched Barnes & Noble University, a distance learning forum offering free classes. Ranging from "Introduction to Programming" to "Introduction to XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. " to "The Night Sky: An Introduction to Astronomy astronomy, branch of science that studies the motions and natures of celestial bodies, such as planets, stars, and galaxies; more generally, the study of matter and energy in the universe at large. "" to "Walking through Shakespeare," Barnes & Noble University has quickly established itself as a leading Internet hub for learning and community. About Barnes & Noble, Inc. Barnes & Noble, Inc. (NYSE: BKS) operates 569 Barnes & Noble and 339 B. Dalton Dalton, city (1990 pop. 21,761), seat of Whitfield co., extreme NW Ga., in the Appalachian valley; inc. 1847. It is a highly industrialized city in a farm area. bookstores, and, with its acquisition of Babbage's Etc. and Funco, Inc., is the nation's largest operator of video game and entertainment software stores. Barnes & Noble stores stock an authoritative selection of book titles and provide access to more than one million titles. They offer books from more than 50,000 publisher imprints with an emphasis on small, independent publishers and university presses. Barnes & Noble is one of the world's largest booksellers on the World Wide Web (http://www.bn.com), and the premiere bookseller on America Online's (Keyword: bn) proprietary network. Barnes & Noble.com has the largest standing inventory of any online bookseller. Barnes & Noble also publishes books under its own imprint im·print tr.v. im·print·ed, im·print·ing, im·prints 1. To produce (a mark or pattern) on a surface by pressure. 2. To produce a mark on (a surface) by pressure. 3. for exclusive sale through its retail stores and Web site. Further information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company's corporate Web site: http://www.barnesandnobleinc.com. |
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