Liberty Media makes $1 billion bid for Barnes & Noble

New York City -- Liberty Media Corp. has offered to buy Barnes & Noble in a deal valued at about $1 billion, which represents a 20% premium over the bookseller’s market value Thursday. Barnes & Noble said Thursday that the cash offer, which the Wall Street Journal called a “stunner,” is worth $17 a share. The companies have yet to sign an agreement. Liberty Media, based in Englewood, Colo., runs three publicly traded companies -- Liberty Interactive, Liberty Starz Group and Liberty Capital Group -- through which it runs home-shopping network QVC and movie channel operator Starz LLC and