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B&N, AOL to bind online
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January 28, 1997: 6:04 p.m. ET
Barnes & Noble to become exclusive bookseller in AOL's Marketplace
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NEW YORK (CNNfn) - Barnes & Noble Inc. said on Tuesday it would team up with America Online to sell books online.
Under the agreement, Barnes & Noble will become the exclusive bookseller in AOL's Marketplace section. Financial terms were not disclosed.
The service will begin in mid-February and will offer over one million titles from Barnes & Noble's database to AOL's 8 million subscribers, the company said. It will also offer online discounts.
"The economics of online retailing are very different from those of store retailing -- online customers complete their own transactions and therefore, not only expect to receive, but are entitled to receive direct-from-warehouse pricing," said Barnes & Noble's Chief Operating Officer Steve Riggio.
Barnes & Noble also said it plans to launch a site on the Web after the AOL site is operational, allowing it to take on Amazon.com, currently the leading online bookseller. Barnes & Noble rival Borders Group Inc. is also planning an extensive online bookshop.
Barnes & Noble is the world's largest bookseller, with 433 stores and also operates 611 bookstores under the names B. Dalton Bookseller, Doubleday Book Shops and Scribner's Bookstores. 
-- Randy Schultz
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