Ingram and Bartz report, “Many people in the book publishing and selling industry accuse Amazon of deeply discounting books to sell them below cost in order to drive other e-book sellers out of business, and then raise prices. Under the terms of the settlement announced on Tuesday, Penguin will drop any agreements with Apple and other ebook sellers that prevents price discounting. It will not be allowed to reinstate the deals for two years.”
“The settlement terms were similar to ones that the Justice Department reached with the other three publishers in April,” Ingram and Bartz report. “The impetus for the settlement could well be a joint venture of Penguin and Random House announced in October by Penguin owner Pearson’s and Random House owner Bertelsmann.”
Read more in the full article here.
MacDailyNews Take: The U.S. DOJ is plainly inept.
Killing real competition for the appearance of competition is just plain stupid.
[Thanks to MacDailyNews Reader "Rainy Day" for the heads up.]
Apple’s U.S. e-books antitrust case set for 2013 trial – June 24, 2012
U.S. government complains, claims Apple trying to rush e-books antitrust case – June 21, 2012
Barnes & Noble blasts U.S. DOJ e-book settlement proposal – June 7, 2012
Apple: U.S. government’s e-book antitrust lawsuit ‘is fundamentally flawed as a matter of fact and law’ – May 24, 2012
Federal Judge rejects Apple and publishers’ attempt to dismiss civil case alleging e-book price-fixing – May 15, 2012
Court documents reveal Steve Jobs email pushing e-book agency model; 17 more states join class action suit – May 15, 2012
Apple vs. Amazon: Who’s really fixing eBook prices? – April 17, 2012
Apple: U.S. DOJ’s accusation of collusion against iBookstore is simply not true – April 12, 2012
Apple not likely to be a loser in legal fight over eBooks – April 12, 2012
16 U.S. states join DOJ’s eBook antitrust action against Apple, publishers – April 12, 2012
Australian gov’t considers suing Apple, five major publishers over eBook pricing – April 12, 2012
DOJ’s panties in a bunch over Apple and eBooks, but what about Amazon? – April 12, 2012
Antitrust experts: Apple likely to beat U.S. DOJ, win its eBook lawsuit – April 12, 2012
Why the market shrugged off the Apple antitrust suit – April 11, 2012
What’s wrong with the U.S. DOJ? – April 11, 2012
Macmillan CEO blasts U.S. DOJ; gov’t on verge of killing real competition for appearance of competition – April 11, 2012
U.S. DOJ hits Apple, major publishers with antitrust lawsuit, alleges collusion on eBook prices – April 11, 2012
U.S. DOJ may sue Apple over ebook price-fixing as early as today, sources say – April 11, 2012