“Following a price-fixing conviction against Apple and major publishers, the Supreme Court refused to hear the case, which means the lower court’s antitrust ruling stands,” Kirk McElhearn writes for Kirkville.
Apple will have to pay out $400 million in refunds to e-book customers, which they can only use to buy new e-books. The total revenue to publishers for trade e-books in the United States for the first ten months of 2015 was just a bit more than $1.1 billion, so Apple’s settlement could be a significant shot in the arm for the languishing industry. — Bloomberg
McElhearn reports, “This amount will inject a huge sum of money into the publishing industry.”
Read more in the full article here.
MacDailyNews Take: Hopefully, the publishers will take this opportunity to price e-books attractively for a change.
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