The great battle between Amazon and book publisher Hachette is over.
The companies reached a multi-year agreement Thursday. Specific terms of the deal weren’t disclosed. Amazon had been fighting for a bigger cut in revenue while also asking Hachette to keep its e-book prices at $9.99.
Hachette CEO Michael Pietsch told authors the deal gives the book publisher control over pricing.
“This approach, known as the Agency model, protects the value of our authors’ content, while allowing the publisher to change ebook prices dynamically to maximize sales,” Pietsch wrote in a letter to authors posted by CNN’s Brian Stelter.
One of those authors might be cracking gleeful jokes about the new deal Thursday night: Stephen Colbert. The Comedy Central comedian gave Amazon the middle finger over the summer for delaying orders of his books.
“If you ordered Hachette’s ’21-Day Weight Loss,’ by the time it arrives, you’re still fat,” Colbert joked. He referenced effects of the dispute — some Hachette books being unavailable for pre-order, searching for them becoming harder and delayed shipments by weeks.
During the standoff, some of Hachette’s authors sent angry messages to members of the Amazon’s board of directors over their book sales being delayed.
The new multi-year deal will go into effect next year.