Barnes & Noble Sells Calendar Club Stake

New York City Barnes & Noble Inc. said Thursday it sold its majority stake in Calendar Club back to the company and its chief executive for $1 million in cash.

Barnes & Noble will also receive $6 million in notes in the deal and take an approximately $9.7 million for the sale during the fourth quarter.

Calendar Club, a provider of calendars, games, puzzles, gifts and music boxes, added $113.5 million to Barnes & Noble's 2008 revenue.

The companies will continue to have a working relationship, the bookseller added.