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

2,026FansLike
3,250FollowersFollow
9,900SubscribersSubscribe

Recent Book Trailers

Instagram

Advertisment

Don't Miss

Illustrated Romance Covers of 2020

0
Not everything in 2020 has been completely horrible. Some things were mildly horrible. Some weren't horrible and a little bit was actually kinda fun....

Keeper of the Lights Gets 5-Stars from Reader’s Favorite

0
For immediate release: Author's new book receives a warm literary welcome. Readers' Favorite announces the review of the Young Adult - Paranormal book "Keeper of the...

No Comic-Con, No Problem: Del Rey and Out of Print Team Up to Launch...

0
In advance of the 30th anniversary of Timothy Zahn’s Heir to the Empire in May 2021, Del Rey and Out of Print have teamed up to celebrate Thrawn like never...

Two for the Dough by Janet Evanovich

0
Two for the Dough by Janet Evanovich Review by Holly Irish My rating: 4 of 5 stars I just love Stephanie Plum books. They haven’t disappointed me...

A Light in the Darkness by Rian McMurtry Book Trailer

0
https://youtu.be/4bJGZ8pNUDA Angela Fujimori enters her sophomore year of high school with a world changed. She apprenticed herself to a necromancer classmate to learn magic and...

New York Public Library Author Talks

0
We love the New York Public Library! And we love their commitment to books, literacy, authors and community. NYPL offers author videos with some of...

To Sleep in a Sea of Stars an Interview with Christopher Paolini

0
From penning the bestselling Eragon series as a teen Christopher Paolini hasn't slowed down. But, he has evolved. From Fantasy to Science Fiction Paolini...

MY BEST RECIPE: KRISTINE RAYMOND SHARES A SWEETHEART OF A RECIPE!

0
Dependent upon the season, my favorite recipe varies. During the summer, when my garden overflows with an abundance of zucchini and crookneck squash, so...

The View from Alameda Island by Robyn Carr

0
The View from Alameda Island by Robyn Carr   Reviewed by Holly Irish   My rating: 5 of 5 stars I couldn’t put this story down! I was hooked...

PAGE TURNING: Craig DiLouie‎’s The Children of Red Peak

0
The survivors of a doomsday cult’s horrific last days reunite to confront their past and the entity that appeared on the final night. Craig DiLouie’s...