(Bloomberg) — Barnes & Noble Inc., the largest U.S. bookstore chain, bought back Pearson Plc’s stake in its Nook Media e-reader division for about $28 million, giving it complete ownership of the business. BarnesandNoble.com is No. 28 in the Internet Retailer Top 500.

Pearson’s stake was purchased for $13.8 million and about 603,000 shares of common stock, New York-based Barnes & Noble said in a regulatory filing today.

The agreement gives Barnes & Noble more flexibility to rid itself of the struggling unit, a move investors have urged for years and that the company agreed to pursue in June. Barnes & Noble bought back Microsoft Corp.’s Nook holdings for $62.4 million and about 2.7 million shares earlier this month.

Barnes & Noble fell 0.2% to $23.08 at the close in New York. The shares have jumped 54% this year, bolstered by speculation that the company will find a buyer for some or all of the company.

The bookseller said earlier this month that the Nook separation may be completed by the end of August. The unit posted a second-quarter loss of $37.6 million before interest, taxes, depreciation and amortization.

Barnes & Noble is speaking with several potential partners and has made no determination about whether it will proceed with a spinoff or sale or in what form, Chief Executive Officer Michael Huseby said in an interview earlier this month.