Amazon and major publishers colluded to keep e-book prices high, lawsuit says from r/books
Amazon and major publishers colluded to keep e-book prices high, lawsuit says
The same Seattle law firm that once sued Apple for propping up e-book prices to the detriment of consumers filed a nearly identical complaint against Amazon
Publishers Hachette, HarperCollins, Macmillan, Penguin Random House and Simon & Schuster — together known as the “Big Five” — agreed not to allow retailers to sell e-books at lower prices than could be found on Amazon.com, the complaint alleges. More than 80% of all e-book sales occur on Amazon.
Federal and state regulators last year stepped up inquiries into anticompetitive practices by software giants Amazon, Apple, Google and Facebook.
Ironically, today’s relatively high prices for e-books — on Amazon, some e-books cost more than hardcover editions — are, in part, the result of the incredibly low prices Amazon formerly charged, multiple media outlets have reported.