A bloc stakeholder in Barnes and Nobles retail stores, Liberty Media Corp, has said it has the power to veto a sale of assets of the company. Aside from this veto power, it is also waiting whether the current chairman of the retailer would make an offer.
John Malone's Liberty Media owns preferred shares in the retailer which is valued at about seventeen percent stake . It is awaiting the future decision by Barnes and Nobles' chairman Leonard Riggio as to his plans to make an offer to split the stores into its two primary revenue streams, the Nook and its ebook business with its flagship retail stores.
Riggio currently owns thirty percent of Barnes and Noble has not made known his decision as to the future of the book retailer. Back in 2010, the store was put up for sale and the only bid received was from Liberty. Instead a number bloc shares were sold by different purchasers, such as Sirius XM.
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