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Amazon and Hachette announce settlement

Just in time for holiday-shopping season, Amazon and Hachette Book Group have announced that the two companies have signed a new multi-year contract that will allow Hachette to set prices on its ebooks, essentially bringing the dispute to an end.

According to The New York Times, few details of the deal have been disclosed, but Amazon spokesperson David Naggar said the digital retailer is “pleased with this new agreement as it includes specific financial incentives for Hachette to deliver lower prices, which we believe will be a great win for readers and authors alike.”

Forbes reports that the new ebook pricing will come into effect in 2015.