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Photo: Justin Sullivan/Getty Images

Barnes & Noble got a lifeline on Friday with the news that it will be bought out and taken private. No longer will the long-struggling book chain be subject to the brutality of the quarterly analyst meeting.

Why it matters: But what is not known is whether long-form readers will fare as well after Elliott Management's $476 million buyout of B&N. One outlook is that Elliott, which already owns the U.K.'s Waterstones chain of bookstores, will use its management expertise to sort out what ails B&N.The other is a continued, slow shriveling up of the neighborhood U.S. bookstore that has been under way for two decades.

Experts contacted by Axios mostly embrace the first scenario — at least as a hope:

  • "Clearly Barnes & Noble has been on a slow boat to nowhere for quite a few years. Maybe as a private company it will be able to enact changes which would not be possible or practical as a public company — even if those changes lead to a slow and orderly liquidation," said Mark Cohen, a professor at Columbia.
  • "Part of the reason they are getting bought out is they were not making it. They faced tremendous competition from Amazon," said Chester Spatt, a professor at Carnegie Mellon. "It gives Barnes & Noble a chance to be successful."

I asked Axios' Dan Primack whether the deal is positive, negative or not-sure on the long-term survival of B&N. "Odds are better today than yesterday, but they remain long," he said.

  • "Waterstones bucked the odds by continuing to grow in the age of Amazon. Now the man credited with keeping Waterstones afloat, CEO James Daunt, will oversee both businesses. So Elliott’s bet is partially on letting Barnes & Noble operate privately, but more about letting it be led by James Daunt."

Go deeper

Broncos and 49ers the latest NFL teams impacted by coronavirus crisis

From left, Denver Broncos quarterbacks Drew Lock, Brett Rypien and Jeff Driskel during an August training session at UCHealth Training Center in Englewood, Colorado. Photo: Justin Edmonds/Getty Images

The COVID-19 pandemic has thrown the NFL season into chaos, with the Denver Broncos' quarterbacks sidelined, the San Francisco 49ers left without a home or practice ground and much of the Baltimore Ravens team unavailable, per AP.

Driving the news: The Broncos confirmed in a statement Saturday night that quarterbacks Drew Lock, Brett Rypien and Blake Bortles were identified as "high-risk COVID-19 close contacts" and will follow the NFL's mandatory five-day quarantine, making them ineligible for Sunday's game against New Orleans.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: McConnell temporarily halts in-person lunches for GOP caucus.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists.
  5. Cities: Surge in cases forces San Francisco to impose curfew — Los Angeles County issues stay-at-home order, limits gatherings.
  6. Sports: NFL bans in-person team activities Monday, Tuesday due to COVID-19 surge — NBA announces new coronavirus protocols.
  7. World: London police arrest more than 150 during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.