Hachette and Amazon have signed a new multi-year contract, ending the dispute that has been ongoing since the beginning of the year. Though neither side released details of the agreement, reportedly Hachette has the ability to set prices for their e-books. This comes less than a month after Amazon’s deal with Simon & Schuster, in which S&S also retained the right to set e-book prices. Further details haven’t been released, but both Hachette and Amazon have announced that they are happy with the contract. Michael Pietsch, Hachette’s chief executive said, “The new agreement will benefit Hachette authors for years to come. This is great news for writers.”
For more, see the story in the New York Times.