Name: Amazon Strikes E-Book Deal With Simon & Schuster
Uploaded: 2014-10-21
Duration: 1 min 30 s
Description: Amazon Strikes E-Book Deal With Simon & Schuster

The first chip has fallen in the ongoing dispute over ebook prices. Big Five book publisher Simon & Schuster has reportedly inked a new contract with tech giant Amazon. Simon & Schuster and Amazon penned this multiyear deal with more than two months left to spare in their old contract. What's more is both parties seem happy with the contract being signed. Business Insider quotes Caroline Reedy, Simon and Schuster's CEO as saying, the new agreement with some limited exceptions, gives control of e- book pricing to Simon and Schuster. Jeff Bezos said in a statement about the new contract, the agreement specifically creates a financial incentive for Simon and Schuster. To deliver lower prices for readers. The two companies have not made the details of their deal public but if their statements are to be believed both sides got what they wanted. Meanwhile the messy negotiations between Hachette Book Group another one of the big five publishers and Amazon rages on after more than six months of back and forth. Harper Collins is next in line to renegotiate a contract with Amazon which. By the way, has its hand on about 67 % of the E- Book market. Amazon, in attacking writers has created a religious war. Writers are religious about books. Authors United, which includes famous author James Patterson, has asked the Department of Justice for an anti- trust investigation into Amazon. No word yet on whether the DOJ will in fact launch an investigation or whether this deal with Simon and Schuster will have any effect on Author's United stance.