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From WSJ
The lawsuit included a quote from the late Steve Jobs, head of Apple, describing his company's strategy for negotiating with the publishers: "We'll go to [an] agency model, where you set the price, and we get our 30%, and yes, the customer pays a little more, but that's what you want anyway."
DOJ Sues Apple, Publishers Over E-Book Price-Fixing
The U.S. Justice Department filed suit against Apple and five big publishers, alleged they conspired to increase prices for e-books.
online.wsj.comDr Draymond
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pulling69 said...
Price fixing e-books must have made them billions:
"Book sales make up only a small portion of Apple's revenue, with estimates pegging iBookstore sales at roughly $50 million annually, and the company is expected to see little impact from any pricing changes in the book market."
This post was edited by Trevor Barnes on 4/11/2012 at 10:42 AM
Trevor Barnes
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Trevor Barnes
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Trevor Barnes said...
"Book sales make up only a small portion of Apple's revenue, with estimates pegging iBookstore sales at roughly $50 million annually, and the company is expected to see little impact from any pricing changes in the book market."
"Put your mother in a straight-jacket you punk ass white boy." ~ Mike Tyson
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Trevor Barnes said...
"Book sales make up only a small portion of Apple's revenue, with estimates pegging iBookstore sales at roughly $50 million annually, and the company is expected to see little impact from any pricing changes in the book market."
ohh. i guess that makes it OK....
what's funny is that music and movies can be price-fixed, there are laws they paid for to protect them from racketeering charges. publishing biz will have to get to work on getting the same exemption.
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tig ol' bitties said...
then why set it up like they did in the first place?
Essentially all this is going to do is shift pricing to retailers instead of the publishers themselves. This will eventually mean that Amazon will make $50 billion next year instead of $49 billion, and Apple will get a slap on the wrist.
"Under the wholesale model, Amazon priced e-books at or even below cost in many cases in order to draw in customers who would then purchase other items from its online store. But the practice generated concern among publishers that their works were being devalued, and many were happy to sign on with Apple's agency model in order to create more price stability.
Analysts estimate that a return to the wholesale model could add $1 billion to Amazon's revenues this year given its commanding 65% share of the e-book market and the impact of discounted pricing on sales of other items in its store. "
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