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The college book business is changing. My son had to buy a four-inch high stack of loose-leaf pages as a 'textbook.' Inside the package was a password to access the class website where the homework was assigned and turned in. He used the website daily. He never used the paper pages.
All this cost over $200!
So any business betting on the college text market will have to be very nimble, because things are going to shift rapidly.
On the other hand, having visited several universities prior to my son's starting college, I still believe that those college bookstores are absolute cash cows. They sell a ton of souvenirs and fan garb on game day, and also do a booming convenience store business to a captive audience with money to spend. Anyone who can't turn a profit at a college bookstore has got to be a complete idiot!
So, B&N is spinning this part of its business off because it IS valuable, and will find a ready buyer. If B&N wants to raise a pile of cash, quickly, then selling off the university bookstores is the best way to do it.
What they will do with that cash is beyond me, however.
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