spot_img

MacMillian Publishing Settles DOJ Lawsuit

In the ongoing lawsuit over eBook pricing, the Department of Justice filled suit last year against all five major publishing houses in the U.S. You can follow Reader’s Entertainment backstory on this litigation by following this link.

The suit involved alleged price fixing and manipulation on eBooks by MacMillan, Hachette, Simon & Schuster, HarperCollins and Apple. With MacMillan Publishing reaching an agreement, it leaves only Apple to deal with the DOJ.

Macmillan CEO John Sargent, CEO of MacMillan released the following statement regarding the settlement: Our company is not large enough to risk a worst case judgment … A few weeks ago I got an estimate of the maximum possible damage figure. I cannot share the breathtaking amount with you, but it was much more than the entire equity of our company.”

As a result of today’s settlement, Macmillan has agreed to immediately allow retailers to lower the prices consumers pay for Macmillan’s e-books,” said Jamillia Ferris, Antitrust Division Chief of Staff. The $70 million settlement was quickly approved by Judge Denise Cote.

The DOJ outlined the terms of the settlement:

Macmillan will immediately lift restrictions it has imposed on discounting and other promotions by e-book retailers and will be prohibited until December 2014 from entering into new agreements with similar restrictions. The proposed settlement agreement also will impose a strong antitrust compliance program on Macmillan, including requirements that it provide advance notification to the department of any e-book ventures it plans to undertake jointly with other publishers and regularly report to the department on any communications it has with other publishers. Also for five years, Macmillan will be forbidden from agreeing to any kind of most favored nation (MFN) provision that could undermine the effectiveness of the settlement.

The publishing industry is waiting to see if Apple will take the lawsuit all the way to court, or if they too will reach a settlement agreement.

 

Similar Articles

Comments

FOLLOW US

2,023FansLike
3,092FollowersFollow
10,700SubscribersSubscribe

Recent Book Trailers

Instagram

Advertismentspot_img

Don't Miss

DARK HORSE COMICS PRESENTS ‘SURVIVAL STREET’, A DARK COMEDY FOR GROWN-UPS

0
Brought to you by the letters F, U, K, and D! A candy coating of pop culture madness, humor, and cartoonishly absurd hyper-violence is heading...

SNEAK PEEK: ALONG THE SHORE BY Rochelle Alers

0
ALONG THE SHORE BY Rochelle Alers Set on a charming North Carolina island, the latest novel in national bestselling author Rochelle Alers’ unforgettable, heartfelt Book...

There’s a Book for That: Short Stories

0
Did you know that May is Short Story Month? And that much of Penguin Random House’s most acclaimed, prize-winning fiction is of the short...

Twisted Reveries Book Three By Meg Hafdahl

0
Twisted Reveries Book Three By Meg Hafdahl Thirteen more chilling stories of gothic Macabre by Bram Stoker Nominee, Meg Hafdahl In Twisted Reveries 3, Bram Stoker Award...

SNEAK PEEK: THE OMEGA FACTOR By Steve Berry

0
THE OMEGA FACTOR By Steve Berry The Ghent Altarpiece is the most violated work of art in the world. Thirteen times it has been vandalized,...

Random House Launches New Imprint, Random House Worlds

0
Random House has announced the launch of Random House Worlds, a new publishing imprint dedicated entirely to licensed book publishing. This newly created imprint will be...

Watch Now: The Brand-New CRAWDADS Movie Preview

0
With the countdown to the debut of the WHERE THE CRAWDADS SING film version two months away, Sony Pictures has just released its second coming-attractions preview...

SNEAK PEEK: DON’T BELIEVE IT by Charlie Donlea

0
DON'T BELIEVE IT by Charlie Donlea USA Today and #1 international bestselling author Charlie Donlea merges high-concept suspense and stunning twists with all the binge-able intrigue...

Floral Fiction

0
Have we got a bouquet of beautiful books for your weekend! Our picks of the season share more that gorgeous floral cover art; These...

SNEAK PEEK: WITCH AND FAMOUS By Angela M. Sanders

0
WITCH AND FAMOUS By Angela M. Sanders Set in small-town Oregon, the latest in the witty, charming Witch Way Librarian series from bestselling and acclaimed...