People looking at an e-book reader app on the Apple iPad.
A Dark Day For The Future Of Books -- CNN
(CNN) -- Wednesday was a dark day for the future of books.
The Department of Justice charged Apple and five large book publishers with conspiring to raise e-book prices. Three of the five publishers quickly capitulated rather than face the risk and expense of a protracted legal battle.
Much of the case revolves around the decision of five of the largest six publishers to simultaneously adopt the agency pricing model immediately before Apple launched the iPad and iBookstore in April 2010. At that time, Amazon commanded about 90% of the e-book market. Amazon priced many books at $9.99 -- which was below the cost at which Amazon was paying the publisher -- in an effort to drive e-book adoption among consumers and capture market share.
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