Three Major Publishers Make $69 Million E-Book Settlement, But Apple Still Remains In Lawsuit
Three of the publishers that are involved in the antitrust lawsuit filed by the U.S. Justice Department have made settlements. About $69 million will be paid to consumers as a result. The three agencies that made the settlement include Hachette, HarperCollins, and Simon & Schuster. They will issue payouts and have agreed to terminate agency pricing contracts with publishers like Amazon and Barnes & Noble.
This pricing model is similar to Apple’s 70-30 revenue split with app developers. A clause in their agreement blocked Amazon from discounting best-selling e-books below cost. Apple, Amazon, Google, Sony, Kobo, and Barnes & Noble have agreed to contact eligible customers via e-mail that the amount issued will be either a check or credit towards future purchases.