Apple and a number of other publishers had been accused of stifling healthy competition in the e-book industry. Investigations on this antitrust case had been underway by European Union and a similar case is ongoing in the U.S. In U.S., a number of publishers have already agreed to a settlement which has resulted in a trend of decline in e-book prices.
And now, Apple and a number of other publishers have agreed to settle the EU case. As per the settlement, Apple, along with a number of publishers including Macmillan, Simon & Schuster, Hachette Livre and Harper Collins will have to adhere to a no-interference policy towards e-book retailers.
As per the settlement, the aforementioned entities will not “restrict, limit or impede e-book retailers’ ability to set, alter or reduce retail prices for e-books and/or to offer discounts or promotions.”
Earlier, it had been found out that Apple has stopped e-book retailers from offering prices lower than those set by Apple, an agreement which was reached at through different contracts. In light of this new settlement, Apple and the publishers have agreed to freeze those contracts for at least five years.
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- Seen at: ilounge