Barnesandnoble.com Acquires Equity Stake in Enews.com
Posted on December 17, 1999barnesandnoble.com, Inc. has announced that it will expand its presence in the online magazine subscription market by acquiring an equity stake of up to 40 percent in Enews.com, a retailer of magazine subscriptions on the Internet. This investment is the first of several barnesandnoble.com plans to make to expand its product offerings in areas related to its core business.
"Enews.com is a perfect strategic fit," said Jonathan Bulkeley, chief executive officer of barnesandnoble.com. "Our complementary product lines offer outstanding cross-merchandising opportunities, and we believe an equity relationship permits broader integration and enhancement of the magazine section of the bn.com site, which in turn will generate stronger commission revenues through magazine sales."