Liberty Media cutting stake in Barnes & Noble, sending bookstore chain's shares sharply lower

NEW YORK, N.Y. - Liberty Media Corp. says it is cutting its stake in Barnes

The investment company controlled by billionaire investor John Malone gave Barnes

But now Liberty says it is selling the majority of its shares to institutional buyers. It will keep 10 per cent of its original investment and lose its two board seats.


Shares fell $2.13, or 9.62 per cent, to $19.98 in morning trading Thursday. The stock had been up 48 per cent this year.