E-tailing giant Amazon and Publisher Hachette announced that they had reached a deal to end their acrimonious feud over online book sales, says a report in Reuters.
E-tailing giant Amazon and Publisher Hachette announced that they had reached a deal to end their feud over online book sales, says a Reuters report.
As per the deal, Hachette Book Group will have to manage the responsibility for setting retail prices for ebooks beginning in early 2015.
Both the companies announced a multi-year agreement on ebook and print book sales in the US market.
Commemting on the development, Michael Pietsch, CEO, Hachette Book Group told Reuters, ’This is great news for writers, and It gives Hachette enormous marketing capability with one of our most important bookselling partners.’
Further, David Naggar, VP, Kindle, the ebook unit of Amazon, also told Reuters that the incentives for Hachette to hold prices down will be a great win for readers and authors alike.
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