Microsoft took a big loss on its 2012 investment in Barnes & Noble, getting less than half of its original upfront $300 million back when the two firms parted ways today.

Its loss, in fact, may have been even larger than at first glance, since Microsoft was obligated to pay Nook Media, the subsidiary formed two years ago, as much as $85 million more per year under the deal.

Barnes & Noble announced the separation today when it issued its quarterly numbers. “Such termination will allow [Barnes & Noble] to continue its rationalization of the Nook Digital business and enhances Barnes & Noble’s operational and strategic flexibility,” the firm said in a statement today.

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