advertisement
advertisement

Amazon And Hachette Bury The Hatchet

The parties did not release details about the terms of the agreement.

Amazon And Hachette Bury The Hatchet
[Photo: Flickr user Ida Myrvold]

After a very long, very bitter, and very public battle, Amazon and publisher Hachette said Thursday they have come to an agreement.

advertisement

The New York Times‘s David Streitfeld, who first broke the story about the dispute between the two parties in May, said the companies were happy with the deal, terms of which have not been made public. Hachette CEO Michael Pietsch called the agreement beneficial for its authors “for years to come,” while Amazon noted financial incentives will help the fourth largest publisher keep book prices low.

Earlier this year, Amazon employed a number of tactics–e.g., shipping delays and unavailable titles–to strong-arm Hachette into a better profit-sharing deal. The publisher’s authors, which include J.K. Rowling, James Patterson, Malcolm Gladwell, and Stephen Colbert, shot back publicly. In June, Colbert blasted the online retailer and CEO Jeff Bezos in an episode of his show. In August, 909 Hachette authors signed an open letter that ran as a full-page ad in The New York Times.

advertisement
advertisement
advertisement
advertisement

About the author

Based in San Francisco, Alice Truong is Fast Company's West Coast correspondent. She previously reported in Chicago, Washington D.C., New York and most recently Hong Kong, where she (left her heart and) worked as a reporter for the Wall Street Journal

More