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Starz Media Parent Bids on Barnes & Noble Bookstores
posted on by Gia Manry
Also: Borders bookstore chain seeks extension on reorganization plans
The publishing industry news site Publishers Weekly reported on Friday that Liberty Media, the parent company of offered to purchase 10 stores owned by its rival bookstore chain Borders.
Meanwhile, Borders has requested an additional 120-day extension to solidify its plans to reorganize under Chapter 11 bankruptcy, for which it filed in February. If accepted, the new deadline would be October 14. The request comes after a meeting held on Wednesday, in which the chain attempted to negotiate with publishers to acquire product for their stores. The results of this meeting have not been made public.
Borders' filing for bankruptcy came after a string of difficulties for the chain, including the departure of two of its executives and the closure.
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