Thread: News flash! Barnes & Noble buys Fictionwise for $15.7 million
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Old 03-05-2009, 12:11 PM   #59
mjh215
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Quote:
Originally Posted by pilotbob View Post
I don't see spending $16million on something that is unprofitable.

BOb
I never said it was unprofitable. I said that B&N would say that when they closed it. Companies do this all the time, sometimes to kill competition, sometimes to hijack technologies and other times to just have it in their coffers for the future. Not to mention just appeasing stockholders with a news blurb. That alone can be worth $16 million. It actually fell nearly a point since the announcement, but Reuters already has it in their "Deals of the day -- mergers and acquisitions".

-MJ
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