An Interest In:
Web News this Week
- April 20, 2024
- April 19, 2024
- April 18, 2024
- April 17, 2024
- April 16, 2024
- April 15, 2024
- April 14, 2024
Some of Our Sources
- Techcrunch
- Simplebits
- Web Designer Wall
- Just Creative
- The Logo Smith
- Smashing Apps
- CSS Tricks
- Design Modo
- The Verge
- TechPowerUp
Help Webnuz
Referal links:
July 10, 2013 05:32 pm GMT
While publishers have agreed to a settlement in the ebook price-fixing case involving Apple and all the major book publishers, the federal judge has ruled that Apple is guilty with its iBookstore, according to Reuters. In a separate lawsuit, attorneys will now have to recover damages on behalf of consumers in the coming months. Back in April 2012, the DOJ wrote an antitrust complaint against Apple and six major book publishers in the U.S. Initially, Apple found the complaint “fundamentally flawed” and “absurd.” The six book publishers (now five) all caved, leaving Apple as the only remaining contender in the case. In a similar ebook lawsuit with the European Commission, Apple settled the antitrust case without admitting that it was guilty. When the iBookstore was unveiled in 2010, the so-called agency pricing model took over ebook stores. Amazon was the big guy and Apple the newcomer. Publishers were scared of Amazon’s dominance. They wanted Apple to grab market share and they didn’t want razor-thin margins after giving back author royalties. Instead of paying $9.99 for new releases, books were priced at $12.99 or $14.99. Apple forced publishers to put the same price tag on the Kindle Store, the iBookstore and every other ebook store. “Apple played a central role in facilitating and executing that conspiracy,” said Judge Denise Cote. According to the WSJ, both Penguin Group and HarperCollins didn’t want Apple’s caps on pricing but had to agree to Apple’s terms. As part of the lawsuit, publishers and ebook stores will have to end the agency pricing model for two years. Developing (Photo credit: Casey Hussein Bisson)
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YCfvnO65wZA/
Apple Guilty Of Fixing Ebook Prices In DOJ Lawsuit
While publishers have agreed to a settlement in the ebook price-fixing case involving Apple and all the major book publishers, the federal judge has ruled that Apple is guilty with its iBookstore, according to Reuters. In a separate lawsuit, attorneys will now have to recover damages on behalf of consumers in the coming months. Back in April 2012, the DOJ wrote an antitrust complaint against Apple and six major book publishers in the U.S. Initially, Apple found the complaint “fundamentally flawed” and “absurd.” The six book publishers (now five) all caved, leaving Apple as the only remaining contender in the case. In a similar ebook lawsuit with the European Commission, Apple settled the antitrust case without admitting that it was guilty. When the iBookstore was unveiled in 2010, the so-called agency pricing model took over ebook stores. Amazon was the big guy and Apple the newcomer. Publishers were scared of Amazon’s dominance. They wanted Apple to grab market share and they didn’t want razor-thin margins after giving back author royalties. Instead of paying $9.99 for new releases, books were priced at $12.99 or $14.99. Apple forced publishers to put the same price tag on the Kindle Store, the iBookstore and every other ebook store. “Apple played a central role in facilitating and executing that conspiracy,” said Judge Denise Cote. According to the WSJ, both Penguin Group and HarperCollins didn’t want Apple’s caps on pricing but had to agree to Apple’s terms. As part of the lawsuit, publishers and ebook stores will have to end the agency pricing model for two years. Developing (Photo credit: Casey Hussein Bisson)Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YCfvnO65wZA/
Share this article:
Tweet
View Full Article
Techcrunch
TechCrunch is a leading technology blog, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.More About this Source Visit Techcrunch