Barnes & Noble Up for Sale

The nation’s largest bookseller, Barnes & Noble, put itself up for sale Tuesday, after members of its board announced that drastic action needed to be taken due to the growth of digital books and online sales, which had prompted its stock price to fall. Barnes & Noble founder and Chairman Leonard Riggio, who is also the largest shareholder, said he supported the decision, though the company said Riggio could possibly form an investor group to buy the company. Though bookstores have been on the decline in recent years and Barnes & Noble stock has dropped nearly $5 a share in a single year, insiders said the company could be a worthwhile purchase due to a strong brand name and potential growth in the digital market.