December 4, 2014 -- Barnes & Noble today announced that it has entered into agreements with Microsoft providing for the termination of the commercial agreement between Microsoft and NOOK Media and the acquisition by Barnes & Noble of Microsoft's preferred interest in NOOK Media for approximately $62.4 million in cash and approximately 2.7 million shares of Barnes & Noble common stock. Cravath, Swaine & Moore LLP represented Barnes & Noble in connection with this transaction.

The Cravath team was led by partners Andrew R. Thompson and Scott A. Barshay and included associates Jared B. Taylor and Feihong Xu (M&A); partner Paul H. Zumbro (banking); and partners Stephen L. Gordon and J. Leonard Teti II and associates Andrew Carlon and Jay S. Gill (tax).