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HarperCollins And Amazon Reach Multi-Year Agreement

HarperCollins will retain the right to determine its own e-book prices.

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On March 31, Business Insider reported that HarperCollins was near the end of its contract with Amazon and had not agreed to a new one.

If HarperCollins and Amazon don't come to an agreement, no print or digital HarperCollins books will be available on Amazon once its existing contract runs out "very soon," our source says.

Yesterday, the publisher and Amazon reached a multi-year agreement. This follows the resolution of the dispute between Hatchette and Amazon over the price of e-books, in addition to agreements with Simon & Schuster and Macmillan.

"All the agreements allow the publishers to set their own e-book prices, a major point of contention, but give them financial encouragement to price cheaply."

It's a win for authors and readers, but publishers do not want to depend just on Amazon for book sales. Macmillan's CEO John Sargent noted in December:

"We have not addressed one of the big problems in the digital marketplace. Through great innovation and prodigious amounts of risk and hard work, Amazon holds a 64 percent market share of Macmillan's e-book business. As publishers, authors, illustrators and agents, we need broader channels to reach our readers."

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