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CHAPEL HILL, N.C. (AP) — The University of North Carolina Chapel Hill is turning its bookstore over to Barnes & Noble.
The school told local media Thursday the 10-year deal will bring in $30 million. University officials said the deal will quadruple the earnings that go to scholarships.
Employees, faculty and students had argued against turning the UNC Student Stores over to a private company.
The school will continue to operate its print shop and a new pharmacy.
Barnes & Noble College Booksellers will manage everything else starting July 1.
The university said that 48 full-time store workers will still be employed at their current salary, either by Barnes & Noble or the school.
The school said the bookstore operation has generated more than $27 million in student scholarships in the past 60 years.
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