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To: judge who wrote (62764)	3/18/1999 10:52:00 AM
From: Mr. Stress	Read Replies (1) \| Respond to of 119973

Thursday March 18 10:43 AM ET Barnes & Noble, Bertelsmann Set IPO NEW YORK (Reuters) - Barnes & Noble Inc. (NYSE:BKS - news), the No. 1 U.S. bookstore chain, and German media giant Bertelsmann AG said Thursday they had registered for an initial public offering of 15 to 20 percent of their online joint venture, barnesandnoble.com. The companies each own half of the online bookseller. Barnes & Noble previously delayed the planned IPO of the online unit when Bertelsmann agreed to buy 50 percent for $200 million. The online unit entered the race for Internet bookselling following Amazon.com, the giant of online retailing of books, music and videos. Leonard Riggio, the chairman and chief executive of Barnes & Noble, will serve as chairman of the online venture, and Bertelsmann executive Jonathan Bulkeley will be CEO. Bulkeley was previously managing director of AOL U.K., the British operation of the European joint venture between America Online Inc. and Bertelsmann. The companies did not reveal an estimated value for the offering or the number of shares to be offered. Proceeds will be used by barnesandnoble.com for new systems and distribution initiatives, acquisitions and general purposes. The Class A common shares to be offered will list on the Nasdaq stock market under the symbol ''BNBN,'' the companies said. The offering is being underwritten by a syndicate of investment banks led by Goldman Sachs and Merrill Lynch and including Salomon Smith Barney and Wit Capital, an investment banker that pioneered taking companies public via the Internet and that itself is planning an IPO.