Nov 13, 2014
By Michael Kramer
A truce in a lengthy literary war.
After several months of bitter fighting between the online retail giant Amazon – and the huge book publisher Hachette – they’ve finally come to an agreement over book sales.
The battles began back in May – after the two companies came to a stalemate over the terms of sales.
Amazon was asking for more favourable terms from Hachette – but when the big publisher refused, Amazon pushed up prices on all Hachette titles.
The retailer also removed those products from its recommended features – and increased the wait time for shipping Hachette books.
But now that they’ve kissed and made up, the companies have reached a multi-year agreement for print books – and for ebooks – giving Hachette “specific financial incentives” so they can offer lower prices on products sold through Amazon.
The new terms come into effect next year and allow Hachette to set its own pricing.