Hachette, HarperCollins and S&S settle price-fixing allegations.

BookBrowse News - The Full Story

Hachette, HarperCollins and S&S settle price-fixing allegations.

Apr 11 2012

Three publishers—Hachette, HarperCollins, and Simon & Schuster—have agreed to a proposed settlement with the U.S. Department of Justice to settle federal claims of price fixing regarding e-books. Publishers Weekly reported today on the broad strokes of the deal, and what it means for the settling publishers (click link at bottom for full story).

Macmillan CEO John Sargent has acknowledged that his company has declined to settle and will fight the litigation. Penguin Group has also confirmed they will fight; and it is expected that Apple will do too.

Penguin Group CEO John Makinson issued a statement saying:

"A responsible company does not choose a path of litigation with US Government agencies without carefully weighing the implications of that course of action [but] we have done nothing wrong. The decisions that we took, many them of them costly and difficult, were taken by Penguin alone."

Speaking about the Justice's filing today he says, "the document contains a number of material misstatements and omissions, which we look forward to having the opportunity to correct in court".

Makinson went on to say that "the agency model is the one that offers consumers the prospect of an open and competitive market for e-books. We understood that the shift to agency would be very costly to Penguin and its shareholders in the short-term, but we reasoned that the prevention of a monopoly in the supply of e-books had to be in the best interests, not just of Penguin, but of consumers, authors and booksellers as well.... The decision we took in January 2010 to move Penguin’s e-book business to agency pricing has been vindicated by the very rapid subsequent growth in the volume of e-books sold by agency publishers, and by the benefit to consumers of the steep decline in the price of e-book readers that that has resulted from this open competition."

More News Stories

Editor's Choice

  • Book Jacket: The Overstory
    The Overstory
    by Richard Powers
    Many glowing adjectives can be used to describe a novel by Richard Powers: brilliant, moving, ...
  • Book Jacket: American Histories
    American Histories
    by John E. Wideman
    In American Histories, a collection of 21 short stories, John Edgar Wideman draws America's present ...
  • Book Jacket: I Found My Tribe
    I Found My Tribe
    by Ruth Fitzmaurice
    Ruth O'Neill was only 28 when she married film director Simon Fitzmaurice in 2004. Changing her...
  • Book Jacket: The Art of the Wasted Day
    The Art of the Wasted Day
    by Patricia Hampl
    Patricia Hampl wants you to know that daydreaming is not a waste of a day. Nor is spending time ...

Book Discussion
Book Jacket
Music of the Ghosts by Vaddey Ratner

A love story for things lost and restored, a lyrical hymn to the power of forgiveness.

About the book
Join the discussion!

Readers Recommend

  • Book Jacket

    The Girl Who Smiled Beads
    by Clemantine Wamariya

    A riveting story of dislocation, survival, and the power of stories to break or save us.
    Reader Reviews

Win this book!
Win The Leavers

The Leavers by Lisa Ko

One of the most anticipated books of 2017--now in paperback!

Enter

Word Play

Solve this clue:

T E H N Clothes

and be entered to win..

Books that     
entertain,
     engage

 & enlighten

Visitors can view some of BookBrowse for free. Full access is for members only.

Join Today!

Your guide toexceptional          books

BookBrowse seeks out and recommends books that we believe to be best in class. Books that will whisk you to faraway places and times, that will expand your mind and challenge you -- the kinds of books you just can't wait to tell your friends about.