Hachette and Amazon Reach Agreement On e-books
Hachette Book Group and Amazon.com said on Thursday they reached an agreement for e-book and print book sales, putting an end in their fighting. Hachette said the new e-book terms will take effect early next year and that it will have the responsibility for setting consumer prices.
Amazon, which pulled several of Hachette's books from its inventory, will immediately resume selling all of Hachette's catalog.
Earlier this year, Amazon and Hachette began negotiations on a new contract but they had failed to agree on which party had the right to set prices for e-books and what cut Amazon would take.
Another big book publisher, Simon & Schuster, announced in October that it had struck an agreement with Amazon in which it got to control pricing as well.