Amazon and major publishing house Hachette have been embroiled in a bitter dispute over contract negotiations since May of this year.
While Amazon and Hachette successfully kept the exact terms of the dispute to themselves, Amazon was widely seen as wanting a bigger share of e-book revenue. Since Amazon also wanted lower e-book prices, that was seen by Hachette supporters as a move that threatened to undermine the publisher's existence. When Amazon raised the stakes by discouraging sales of Hachette books, that incited the ire of those authors and then other members of the literary community.
However, Amazon and Hachette announced today that they have signed a new multiyear agreement, finally ending the seven-month-long feud.
Neither side gave details of the deal, but both pronounced themselves happy with the terms. Hachette, the fourth largest publisher, won the ability to set the prices for its e-books, which was a major contention in the fight.
Now we can focus on what's really important: reading books! Hooray!
