Liberty Media reduces Barnes & Noble stake
New York — Liberty Media Corp. has entered into agreements to reduce its stake in Barnes & Noble. Liberty Media informed Barnes & Noble that while Liberty has sold the majority of its shares to qualified institutional buyers, it will retain approximately 10% of its initial $204 million investment, which could be converted to a 17% ownership stake.
Liberty further informed Barnes & Noble that the sale is expected to settle on April 8. As a result of Liberty’s reduced ownership, they will no longer have the right to elect two preferred stock directors to Barnes & Noble’s board. In addition, Liberty’s consent rights and pre-emptive rights will cease to apply. Due to the loss of the right to elect two preferred stock directors, Greg Maffei president and CEO, Liberty Media, will cease to serve on the board as of the closing on April 8. Mark Carleton has been re-elected to the Barnes & Noble Board effective upon the closing on April 8.
“By reducing our preferred position and eliminating some of our related rights, Barnes & Noble will gain greater flexibility to accomplish their strategic objectives,” said Maffei.“We look forward to maintaining our relationship with the Company and are pleased that Mark Carleton will continue serving on the board. Mike Huseby and his team are doing a great job in the retail, college and Nook spaces,” Maffei added.
Atlantic Brands deploys Lyris digital marketing
Sydney, Australia — Multi-brand retailer Atlantic Brands is using Lyris’ digital marketing platform to boost sales and customer engagement for its Australian division. With Lyris, Atlantic Brands plans to increase repeat purchases and overall revenues by gleaning customer insights from online and offline activity.
Atlantic Brands plans to start deploying Lyris within its long-term licensee Lonsdale London boxing and MMA equipment brand, but plans to expand implementation to the remainder of its long-term licensees UCLA and Tumble ‘N Dry. To do so, Atlantic Brands plans to connect Lyris with its existing Enterprise Resource Planning (ERP) platform, enabling them to fully tap into customer data and orchestrate meaningful experiences at every touch point. In addition, Atlantic Brands will be using Lyris Real-Time Targeting and Lyris Retention Automation to optimize revenue throughout the purchasing cycle.
“We have a proven history of success and understanding our customers’ preferences and how we can bring them value is key for us to continue down that road,” said Drew Casper-Richardson, retail operations manager at Atlantic Brands. “With Lyris we now have real-time access to a complete revenue-side view of the customer and a team of experts who understand the retail industry. This allows us to engage in more relevant conversations with our customers to increase revenue at every stage of the buying journey.”
The Knot releases wedding planning iPhone app
New York — The Knot has released The Knot Wedding Planner App for iPhone. With two clicks, a couple can find a venue, read reviews, check availability and source the entire team responsible for the wedding, from planner to florist and photographer.
Users can favorite a cake on the app, then view all those details in full size on their desktop, or favorite a bouquet on their desktop and show it to your florist on the app. As couples browse through more than 50,000 wedding photos, they are linked directly to approximately 120,000 wedding vendors across the country. The app also features a wedding checklist, budgeter, and guest list manager.
"The Knot mission is to make wedding planning easier and more fun in every medium. Our current obsession is, obviously, mobile," said Carley Roney, cofounder of The Knot. "The Knot Wedding Planner App now has the addictive real wedding albums and quality vendor listings TheKnot.com is famous for, enhanced with the unique features mobile makes possible – sourcing information tied to your exact location and being able to instantly contact the businesses who can make your wedding dreams possible."