Quote:
Originally Posted by DuckieTigger
Used to is the imperative word. No much value left as a whole (as of right now) to buy everything for the few interesting pieces. Better to wait for someone else to buyout B&N with the intent clear from the beginning to split and liquidate.
Except Riggio doesn't realize yet that he should let his dream die and move on.
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Selling the buildings kept them alive a while longer.
As is, there is still a lot of unbundled value to be found in B&N. More than in the combined company. A common "vote of confidence" seen in sick companies.
- They own a publishing business, Sterling publishing. They've been trying to sell them but nobody has met the asking price and its IP catalog isn't particularly deep or good. In a liquidation Hachette might buy it. They'll bought Disney's Hyperion, they'll buy anything.
- The own a substantial logistics and warehouse system that rivals Ingram. In the 90's they tried to buy Ingram but were blocked on antitrust grounds since it would have let them control the prices of their competitors. Empty of books, it would be a valuable distribution system for a foreign retailer looking to get into the US. Clothing, cosmetics, toys, widgets of all kinds. Maybe even for books.
- One thing a buyer won't have to worry is about pension liabilities since B&N ended their Defined Benefits plan in 2014 and, anyway, they fired everybody with significant tenure.
http://www.pionline.com/article/2014...nating-db-plan
- The brand itself still has some value. The same for Nook and FictionWise/eBookwise. Some startup or smaller bookstore might buy them.
Hmm, Bluefire and Aldiko are still around; they could bid for the brands to front generic storefronts. Or maybe FNAC or Waterstones will be interested in the brand (alone or with the logistics and warehouses.)
And, of course, there's the great hope itself: Indigo.
