American LibrariesSearch American Libraries  |
||
Site Navigation
Left Sidebar Items |
||
Barnes & Noble Cools Ingram PurchaseBookseller Barnes & Noble called off its $600-million plan to acquire the Ingram Book Group, the nation’s largest book wholesaler, after the staff of the Federal Trade Commission concluded that the merger violates antitrust laws, the June 2 New York Times reported. Barnes & Noble CEO Leonard Riggio said the company would immediately explore “plan B” by expanding its own warehousing and distribution network. He did not completely rule out a union with Ingram, however, and executives and lawyers for both companies will discuss their next move on June 8. When the sale was announced in November 1998, it prompted immediate opposition from the American Booksellers Association, publishers, and independent booksellers, who claimed the deal would hurt competition and adversely affect credit, delivery speed, and access to popular titles. Posted June 7, 1999. |
Right Sidebar
|
|
