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NEW YORK (AFP) – Struggling US proprietor Barnes & Noble said that Liberty Media had offered to acquire the company for $17 a share in cash, valuing the merchandiser at around $1 billion.

"The offering is person to, among another things, the signing of a expressed acquire agreement, usual closing conditions, much as the acknowledgement of regulatory and shareholder approvals, and acknowledgement of unexceptionable debt financing," Barnes & Noble said in a statement.

The bid would give the media conglomerate dominated by tycoon Evangelist Malone a new playing to go with its Starz flick channel, QVC shopping meshwork and wager in the Expedia movement website and another media assets.

The offering is also force "on the participation of founding chairman author Riggio, both in terms of his continuing justness ownership and his continuing role in management," the statement said.

Barnes & Noble calls itself the world's largest bookseller, with 705 bookstores in 50 states.

But the aggregation playing has been hammered by a agitate to electronic books as substantially as cyberspace sales.

Borders, the second-largest US bookstore chain, filed for bankruptcy in February, and is still undergoing restructuring.

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