illegal practices

E-Book Pricing: DOJ/Publisher Settlement Approved

When I saw this tonight I wanted to post something fast.

For those who have been led to believe this is about e-books putting bookshops and print books out of business you might want to read the facts a little closer.

As I see it, this is more about collusion. Period.

A federal judge has approved the U.S. Justice Department’s settlement with a trio of electronic book publishers accused of conspiring in a price-fixing scheme orchestrated by the late Steve Jobs.

Among other things, the agreement requires the publishers — Hachette, HarperCollins and Simon & Schuster — to abandon the pricing system that they had conceived with Apple before it released its iPad tablet in 2010. The change is supposed to come within the next week.

You can read more here at Bloomberg Businessweek.