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dELiA*s Corp. Completes Sales Of SparkNotes.com and TheSpark.com to Barnes & Noble, Inc. |
| dELiA*s Corp. (Nasdaq:DLIA), a multi-channel retailer to
consumers between the ages of 13 and 24, has completed the sale of
substantially all of the assets of its TheSpark.com Inc. subsidiary to
Barnes & Noble, Inc. (NYSE:BKS). These assets include SparkNotes.com,
an academic resource site that features online study guides in a variety
of subjects and TheSpark.com, a site for college-age users. Financial
terms of the transaction, which also involved the assumption of certain
liabilities, were not disclosed.
Stephen Kahn, Chief Executive Officer of dELiA*s, stated, “For dELiA*s, the sale of these properties accelerates our progress towards streamlining our operations and focusing on the dELiA*s-branded multi-channel retailing business. TheSpark staff has done a tremendous job creating and growing these community sites, and we are pleased that they are appropriately positioned to expand their online and offline reach with such a strong partner.” dELiA*s Corp. previously announced its decision to explore strategic alternatives with respect to its Internet community businesses, which also include gURL.com, on December 13, 2000, and previously announced that it had signed a letter of intent to sell the SparkNotes.com site to Barnes & Noble. Source: dELiA*s Corp., March 20, 2001 Your Turn - click here for our online opinion form or email us using this link: mailto:feedback@eretailnews.com
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Updated: 17 Feb 2006 .
