US bookselling chain Barnes & Noble has creating a new subsidiary for its digital businesses and college bookstores in partnership with Microsoft, reports Publishers Weekly
. The venture is temporarily named Newco and is backed by a US$300 million (approximately A$290 million) investment from Microsoft, which gives Microsoft a 17.8% shareholding. Publishers Weekly
reports that the new venture will focus initially on supporting reading applications for Windows 8, including the development of a Nook app for Windows 8, but representatives from both B&N and Microsoft have said that the partnership will mean growing B&N’s digital business globally.