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Amazon.com tells customers: settlements a "big win"

Amazon.com has begun telling customers that they may be eligible to receive a refund on e-books purchased between April 2010 and May 2012, describing the settlement agreements as a "big win for customers" and saying that it looked forward to "lowering prices on more Kindle books in the future".

The internet retailer sent emails to customers in America on Saturday (13th October) explaining they could receive a refund of between 30 cents and $1.32 for e-books bought between that two-year time period. Customers will receive $1.32 for each title that was on the New York Times bestseller list during the claim period, and 30 cents for each title that wasn't a bestseller, which will be automatically refunded to customers’ accounts. The credits can be used to purchase Kindle books or print books.

The email said: "In addition to the account credit, the settlements impose limitations on the publishers’ ability to set e-book prices. We think these settlements are a big win for customers and look forward to lowering prices on more Kindle books in the future."

S&S, HarperCollins and Hachette Book Group USA agreed to settle a lawsuit after an antitrust investigation into the agency agreement accused them of fixing the price of e-books. The three publishers have agreed to pay $69m into a fund to pay for the refunds.

A hearing in February is expected to determine if the court will approve the settlement and only then will the refunds be paid. An official website for the State Attorneys General E-book Settlements has now been launched.

 

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Huge win for authors and consumers as well as publishers that create their own content. Big Six lose as authors start dealing directly more and more with Amazon which will further reduce retail prices and increase volume. Authors and content producing publishers already get paid far faster than through most traditional book retail channels. The lower retails will encourage greater sales as has been shown with physical books at club channels such as Costco.

Huge win for authors and consumers as well as publishers that create their own content. Big Six lose as authors start dealing directly more and more with Amazon which will further reduce retail prices and increase volume. Authors and content producing publishers already get paid far faster than through most traditional book retail channels. The lower retails will encourage greater sales as has been shown with physical books at club channels such as Costco.