50% of U.S. Bookstores Will Close in Next 3 to 5 Years

"I think in the next three to five years, you'll see half the bookstores in this country close," says Neil Van Uum, Joseph-Beth Booksellers president.

Barnes & Noble, the country's largest bookseller, put itself up for sale in August and has struggled for years with declining sales. It's pinned hopes on initiatives including its Nook electronic reader.

'There's a lot of fixed overhead in the book business, especially with stores as complex as ours,' Van Uum said.

None of that should be terribly surprising. Most businesses are affected by the Internet and IP technology, and retailers of content products, ranging from booksellers to airlines to movie and television producers and distributors, not to mention providers of communication services, all are cases in point.

Joseph-Beth files for bankruptcy protection