“In a fight over the price of electronic books, Amazon.com has blinked,” Brad Stone and Motoko Rich report for The New York Times.

“On Friday, Amazon.com shocked the publishing world when it pulled both the digital and physical books of Macmillan, the large international publisher, after Macmillan said it planned to begin setting higher prices for its e-books,” Stone and Rich report. “Until now, Amazon has been setting e-book prices itself, and has established $9.99 as the common price for new releases and best-sellers.”

Stone and Rich report, “But in a message to its customers posted to its Web site on Sunday afternoon, Amazon said that while it strongly disagreed with Macmillan’s stance, it would concede to the publisher.”

Full article here.

[Thanks to MacDailyNews Reader “dd for the heads up.]