Follett College Stores will replace Barnes and Noble Booksellers as the operator of University Bookstore under a new contract.

As part of the contract, OU will receive $450,000 more annually.

The OU Board of Regents awarded the five-year contract to operate and manage University Bookstore on Jan. 10.

The decision to change companies came after a committee comprised of faculty, staff and students looked at alternatives to Barnes and Noble, said Earl Whitman, OU director of purchasing.

Barnes and Noble Booksellers has operated and managed the bookstore for the last five years.

Whitman said Barnes and Noble has served OU well, but it was necessary to go back into the marketplace to find the best quality service and deal. After more than 10 companies extended bids, Follett was chosen.

"The percentage of revenue (Follett) offered to give back to the university was just too great to pass up," Whitman said.

Under the old contract, Barnes and Noble gave 9 percent of its profits back to OU for annual sales under $6 million, and 10 percent for sales over $6 million.

Under the new contract, Follett will give 11.5 percent back to the university regardless of annual profit.

Currently, the annual Barnes and Noble sales level is $5.8 million. Based on this sales level, the probable return on the Follett contract is $450,000 greater than with Barnes and Noble, Whitman said.

Money from the bookstore is placed in a fund which is divided up by OU President David Boren. Recently, money from the bookstore was allocated to make repairs to the Jim Thorpe Multicultural Center.

In addition to OU's revenue increase, Follett plans to spend $290,000 on renovations to the main store and $100,000 to renovate the Oklahoma Memorial Union location.

Allen Moore, OU director of auxiliary services, said no one would be affected negatively by the change.

He said the decision to change companies was unanimous.

Current Barnes and Noble employees will be offered their same positions with the same salary and benefits as their current positions, Moore said.

Follett also agreed to make more used books available and allow students to order their books over the phone, Moore said.

Because publishers set book prices, no price increase is expected, Moore said.

Currently, Barnes and Noble gives $6,000 each year in scholarships to OU students and a 20 percent discount to faculty and staff. In order to ensure a smooth transition, Follett will increase its scholarships and faculty and staff discounts to match those of Barnes and Noble.

Deborah Wollenberg, head of OU contract services, said the bookstore affects everyone on campus, and that every effort was made to ensure the change would be beneficial.

"We looked at every aspect of Follett to make sure that we were not giving up service for an increase in revenue," Wollenberg said.

Follett will replace Barnes and Noble sometime before July, Whitman said.

Both companies have to agree on the time of the switch.

Barnes and Noble currently operates more than 300 campus stores, and Follett operates 485 in the country.

"We were not unhappy with Barnes and Noble in any way," Moore said.

"They have provided very good service," he said.

"We were dealing with two fine companies and ultimately the weight of the decision rested on the financial offer."