Amazon strikes deal with major publisher Simon & Schuster on e-book prices
Online book retailer Amazon.com Inc
Amazon, which had been in talks with Simon & Schuster since July over pricing, confirmed the deal first reported by the Business Insider news blog that the two had reached an agreement.
Amazon had been locked in a months-long standoff with publisher Hachette Book Group, the fourth-largest U.S. book publisher owned by France’s Lagardere
Industry experts had expected other publishers eventually to be drawn into negotiations as well, as the Internet retailer tries to set new benchmarks for the e-book market.
Negotiations with Simon & Schuster took about three weeks and closed two months before Amazon’s contract expired, according to Business Insider.
Simon & Schuster made its original offer and an agreement was reached after a few changes by Amazon, the source told Business Insider.
(Reporting by Arathy S Nair in Bangalore and Deepa Seetharaman in San Francisco; Editing by Maju Samuel and Diane Craft)