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Barnes & Noble, Inc. Message Board

  • danginsberg danginsberg Oct 15, 1998 12:58 PM Flag

    Wall St. Journal article on Bertelsmann

    In today's WSJ:

    DASHED DEAL: Bertelsmann
    AG's recent move to shell out $200 million for 50% of
    Barnes & Noble Inc.'s online division sent the stock of
    rival bookseller Inc. falling. But things
    might have been different: Amazon, it turns out, was
    the German company's first choice.

    talked with Amazon about buying some or all of the
    company, say Bertelsmann chief Thomas Middelhoff and
    Amazon CEO Jeff Bezos. They held extensive meetings in
    New York and Seattle as well as a visit to
    Bertelsmann's headquarters in Europe by Mr. Bezos on his way to
    a vacation in Turkey. While neither mogul was
    specific, negotiations reportedly broke down over Amazon's
    lofty price tag -- it's worth $4.67 billion as of
    Wednesday's market close.

    Now the competition between
    Bertelsmann and Amazon could enter the music world. People
    familiar with the situation say online music seller N2K
    Inc., which is in merger negotiations with rival CDnow
    Inc., has already had talks with Bertelsmann and could
    revisit the idea of a partnership or acquisition of the
    combined company once the deal goes through. Bertelsmann
    has been sniffing for an online music retail play,
    these people say.

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