Publishers Weekly reports that Liberty Media, owner of the Starz movie and QVC home shopping channels, has just bid $1 billion—$17 per share—in cash to purchase Barnes & Noble. This is significantly higher than the $14.11 share price the company had at close of business May 19th. The offer includes a number of conditions, such as the continuing participation of chairman Len Riggio.

Will a media company have a good working synergy with a bookstore chain? (Apart from the obvious benefit of being able to sell Nooks on QVC.) If the offer goes through, we might soon find out. Certainly Liberty is friendlier toward Riggio than the previous would-be purchaser, Ron Burkle, was.

(Found via Publishing Perspectives.)

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TeleRead Editor Chris Meadows has been writing for us--except for a brief interruption--since 2006. Son of two librarians, he has worked on a third-party help line for Best Buy and holds degrees in computer science and communications. He clearly personifies TeleRead's motto: "For geeks who love books--and book-lovers who love gadgets." Chris lives in Indianapolis and is active in the gamer community.


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