In the middle of negotiations over e-book pricing, Amazon is taking an aggressive swing at Penguin Books.Amazon has slashed the prices of new Penguin hardcover books to $9.99, the price Amazon thinks e-books should cost, the Wall Street Journal reports.
Amazon’s deal with Penguin over digital rights ended April 1. Since then, Penguin’s books have not been available for Kindle.
To show Penguin how ridiculous it is that Amazon can’t sell e-books for $9.99, Amazon cut prices to teach Penguin a lesson.
If you want to buy The End of Wall Street by Roger Lowenstein in hardcover it’s $9.99 at Amazon. If you want to get it digitally, it’s $12.99 in iBooks.
Amazon’s last major spat with a publisher over e-books was with Macmillan. Amazon pulled Macmillan’s books from its store to teach Macmillan a lesson. Eventually Amazon caved and accepted Macmillan’s terms, which meant higher e-book prices. We imagine the same thing will happen here.