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To make the transition from print and B&M (mostly) to online and ebook (mostly) is damn difficult, and isn't the easy path most Mobile Readers think it is. For BN, it requires luck, skill, money, and technical expertise. BN has to come up with the first two by itself, but MSFT as a partner has plenty of the last two.
With MSFT as an investor, BN will also be able withstand the coming price war with Amazon, which will reassure investors.
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