WASHINGTON, November 13, 2014 – According to several reliable sources, Amazon.com (AMZN) and the Hachette Book Group buried the hatchet today, striking a new pricing agreement and ending their longstanding impasse over the sales and pricing of both print and ebooks via the online retail giant’s website in the U.S.
Under the ebook portion of the agreement, Hachette and Amazon will immediately resume normal commerce. The new ebook terms will then take effect some time after the turn of 2015.
Hachette will regain control over its ability to set ebook prices for consumers that may ultimately result in better pricing for readers, given a new financial incentive for the publisher to get better terms if it can create lower pricing structures for its e-properties.
Details on exact pricing terms and on the length of the new agreement are not currently available.
Based in New York City, the Hachette Book Group (HBG) is a division of Hachette Livre, one of the world’s top-three publishing giants. Its most recognizable U.S. divisions are Little, Brown and Company, Little Brown Books for Young Readers, Grand Central Publishing, Orbit, Hachette Books, Hachette Nashville and Hachette Audio.