Barnes & Noble is reportedly looking to sell its retail business to its founder and shy away from Nook hardware. The stock price jumped at the news that Leonard Riggio, who also serves as its chairman, told the board of directors that he wants to buy the retail business that includes Barnes & Noble Booksellers and

It was reported that Barnes & Noble’s executives may “move away” from designing and building e-readers and tablets and “focus more on licensing its content to other device makers.” The company may instead intensify partnerships with other tablet makers like Microsoft and Samsung.

“They are not completely getting out of the hardware business, but they are going to lean a lot more on the comprehensive digital catalog of content,” said a source.

Source: USA Today