Barnes & Noble launches Wi-Fi only Nook; cuts price of 3G model; will begin broadcast advertising campaign

In an increasingly crowded market for black & white e-readers, Barnes & Noble made its move by introducing a low priced Wi-Fi-only model of its Nook reader, while slashing the price of its existing 3G model.

The new Wi-Fi model is priced at $149.00, while the 3G model went from $259 to $199. In comparison, Amazon's Kindle is priced at $259 for its 6 inch model, while the larger Kindle DX is priced at $489.

Dow Jones also reports that the book chain will begin broadcast advertising for the first time in 14 years.