Home » Apple, Big Publishing, Legal Stuff » Publishers to Pay $69M in eBook Pricing Settlement

Publishers to Pay $69M in eBook Pricing Settlement

31 August 2012

From Galleycat:

55 attorney generals from different states, districts and U.S. territories have reached an agreement with HarperCollins, Hachette and Simon & Schuster in the ongoing litigation over eBook pricing.

According to the terms of the deal, consumers who bought an eBook from any of the “Agency Five” publishers during April 1, 2010 until May 21, 2012 will receive compensation.

Link to the rest at Galleycat

Here’s a press release discussing the settlement from the Connecticut Attorney General.

Apple, Big Publishing, Legal Stuff

4 Comments to “Publishers to Pay $69M in eBook Pricing Settlement”

  1. That’s alot of money. I hope they think twice before they collude again, it may not have been worth it.

    And I continue to wonder where Publishers are getting these millions of dollars. I always get the impression, mostly from literary agent blogs, that Publishers are completely broke and that’s why authors should not only accept piddling royalty rates, but maybe send Publishers a check once in a while to help them out, you know as a donation to a needy cause.

    On a different note, I got really, really excited when I saw that consumers will receive compensation. This went from conceptual to real! Does that mean I will get money?? Is it ALOT of money? Because I could use ALOT of money, and I’m sure I bought ALOT of books during that time.

    Hmmmmm. I also had pain and suffering from paying high e-book rates. I had to call in sick to work just to deal with my emotional turmoil. I wonder if I could recover lost wages and get some compensation for my hardships?

    • Excellent point.

      I suffered too! I spent only a little on Agency Five ebooks, because they were too expensive. I couldn’t afford to buy many. Which means my reading habit suffered. And when my reading habit suffered, I got migraines. And had to miss work. And tripped and fell from the migraine pain. And broke my foot badly! Recovering wages, yes! Compensation for hardship, yes! What a good idea, Mira!

      LOL!

  2. ATW, NewsCorp (the parent of HarperCollins) has annual revenues of US$ 33.405 billion, Lagardère (Hachette’s parent) has annual revenues of €7.657 billion, and CBS (parent of Simon & Schuster) has annual revenues of US$ 14.245 billion.

    $69M will leave a mark, but not a serious one.

    PaidContent is reporting that the payout will be between US$ 0.25 and $1.32 per book purchased. That’s not a lot, even for those who buy a lot of books.

    http://paidcontent.org/2012/08/30/e-book-buyers-to-get-25-cents-to-1-32-per-book-in-apple-price-fixing-case/

  3. I got a letter once asking me to take part in a class action suit. I think it was an old insurance company I had. Big money was allegedly ion the line.

    About a year later I got a check for less than the postage to send it. Law firms involved in the suit probably got millions. No offense PG.

    Readers won’t see anything more than spare change I’d bet but it’s nice to see a little justice for the Publishers who’ve clearly grown too accustomed to making up their own rules.

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