Amazon has made peace with French publishing house Hachette, finally bringing an end to the months-long battle over ebook pricing and publisher royalty payouts.
The two companies did not disclose terms of the deal but did acknowledge in a
joint statement that Hachette would get the rights to set prices for its books with what Amazon said was a 'financial incentive' to keep prices on ebooks down.
"This is great news for writers," said Hachette Book Group CEO Michael Pietsch.
"The new agreement will benefit Hachette authors for years to come. It gives Hachette enormous marketing capability with one of our most important bookselling partners."
