US-based technology firm Microsoft is offering to buy the digital assets of Nook Media for around $1 billion, according to TechCrunch.

Microsoft already has a stake in Nook Media, the maker of the eponymous reading device, which was formed by book retailer Barnes & Noble Inc.

Shares in Barnes & Noble, America’s biggest books retailer, jumped 20% on the news.

However, a subsequent report said Microsoft had not made any official moves to take the floundering venture off the retailer’s…

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