• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

EU may settle with e-book publishers

Mar 12 2012 14:09 Reuters

Related Articles

Sony to launch e-readers in Japan

Dell abandons Android tablet in US

Firing up the market

Kindle a hot Xmas item, says Amazon

Amazon's Kindle flying off the shelves

Amazon revenue, spending surge

 

Brussels - European Union regulators are open to a settlement with e-book publishers owned by Lagardere, News Corp and three other firms if they offer concessions to resolve competition concerns, the EU’s antitrust chief said on Monday.

Since last December, the European Commission has been investigating whether the publishers fixed prices with Apple for electronic books, an action that might have blocked rivals such as Amazon and hurt consumers.

Lagardere’s Hachette Livre unit and News Corp’s Harper Collins are being investigated. The other three publishers are CBS Corp’s Simon & Schuster, Pearson’s Penguin and Verlagsgruppe Georg von Holzbrinck, which owns Macmillan in Germany.

“This possibility of a settlement is only open in the case the publishers will be ready to remove all our objections,” European Commissioner for Competition Joaquin Almunia told reporters.

He said EU regulators were coordinating with US counterparts, which are also looking into such pricing deals under an agency model adopted in 2010 in which publishers set the retail price.

Under the commission’s settlement procedures, companies could offer concessions to avert a fine of up to 10% of their global sales. Regulators would then drop their investigation without the companies admitting to any wrongdoing.

US regulators have warned Apple and the five publishers that it plans to sue them, a person familiar with the matter told Reuters last week. The person also said several of the companies were holding talks to settle the case.

The wholesale model used by Amazon allows retailers to pay for the product and charge what they like.

 
eu  |  e-books

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...