Amazon and Hachette finally kiss and make up over book sales dispute

After several months of gruesome fighting between online retail giant Amazon and major book publisher Hachette, the two companies have finally come to an agreement over book sales today.

The dispute first started back in May after the two companies were unable to come to an agreement over sales terms. Amazon apparently wanted a more lucrative set of terms from Hachette. When the book publisher refused, Amazon decided to raise prices on all Hachette book titles, remove those products from its recommendation features, and increase the shipping wait time on its books. In other words, Amazon didn’t provide any incentive for its customers to buy a Hachette book title.

But now all is well, and the two companies have reached a multi-year agreement for print books and ebooks that provides Hachette with “specific financial incentives” that will allow the publisher to start offering lower prices on its products sold through Amazon, said Kindle VP David Naggar.

The new terms don’t kick in until 2015, but they will allow Hachette to set its own pricing. Therefore, if you think a book price is too high, you now know who to blame.

via BusinessInsider