Amazon strikes deal with Simon & Schuster on e-book prices
Reuters
Published Oct 20, 2014 08:53PM ET
Amazon strikes deal with Simon & Schuster on e-book prices
(Reuters) - Online book retailer Amazon.com Inc (O:AMZN) said on Monday it has signed a multi-year deal with Simon & Schuster Inc, the second Big-Five book publisher, on the future price of e-books.
Amazon, which had been in talks with Simon & Schuster since July over pricing, confirmed the deal first reported by the Business Insider news blog that the two had reached an agreement.
Amazon had been locked in a months-long standoff with publisher Hachette Book Group, the fourth-largest U.S. book publisher owned by France's Lagardere (PA:LAGA), over digital book pricing. That has led to numerous issues for authors.
Industry experts had expected other publishers eventually to be drawn into negotiations as well, as the Internet retailer tries to set new benchmarks for the e-book market.
Negotiations with Simon & Schuster took about three weeks and closed two months before Amazon's contract expired, according to Business Insider.
Simon & Schuster made its original offer and an agreement was reached after a few changes by Amazon, the source told Business Insider.
(Reporting by Arathy S Nair in Bangalore and Deepa Seetharaman in San Francisco; Editing by Maju Samuel and Diane Craft)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.