WASHINGTON — Amazon.com and the Hachette Book Group announced Thursday that they have reached an agreement to end their long-running dispute over e-book pricing. The fight escalated to such a level that Amazon did not offer discounts on books written by Hachette authors and prevented customers from pre-ordering new Hachette titles.
The firms announced the deal in a joint statement, but did not disclose the terms. It is a “multi-year agreement for e-book and print sales in the U.S.,” the statement said. The new deal will take effect in 2015.
Hachette, which is a part of the media conglomerate Lagardere SCA, will set the prices for e-books as part of the deal. Amazon will resume selling Hachette books as usual.
The companies have been fighting for months over how book profits should be split among the publisher, authors and Amazon. The dispute drew the attention of high-profile authors including Stephen King and Robert Caro, who spoke out against what they perceived as the stranglehold that Amazon has on the e-book market. Yet other, largely independent authors defended Amazon and said that the company has transformed the publishing world in a way that makes it easier for writers to distribute their work.
Hachette and Amazon each accused the other of making authors and consumers pawns in a bid to grab more money. But in the statement announcing the end of the dispute, both sides also claimed victory.
“This is great news for writers,” Michael Pietsch, Hachette Book Group’s chief executive, said in a statement. “The new agreement will benefit Hachette authors for years to come. It gives Hachette enormous marketing capability with one of our most important bookselling partners.”
“We are pleased with this new agreement as it includes specific financial incentives for Hachette to deliver lower prices, which we believe will be a great win for readers and authors alike,” said Amazon’s David Naggar, vice president of its Kindle division.
Amazon and Hachette had been under considerable pressure to resolve their differences before the busy holiday season. The deal comes on the heels of an agreement Amazon struck with Simon & Schuster, which also allows the publisher to set its own e-book prices, while giving Amazon leeway to apply discounts in certain instances.
Copy the Story LinkSend questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.