Penguin promises to scrap Apple e-book deals - Times of India

BRUSSELS: EU regulators accepted a pledge by British media group Pearson's Penguin unit to scrap its e-book deals with Apple which set price curbs on Amazon and other retailers, closing an antitrust case against the company. Penguin offerd in April to end "most-favoured nation" contracts for five years. Such clauses bar rival retailers from selling e-books cheaper than Apple. It also proposed to let retailers set prices or discounts for a period of two years. The concessions are similar to those offered by four other publishers last year. The European Commission said the publishers' offer would boost the e-book market. "After our decision of December 2012, the commitments are now legally binding on Apple and all five publishers including Penguin, restoring a competitive environment in the market for e-books," European Competition Commissioner Joaquin Almunia said in a statement. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEMGVCYfHXVyli4EsZ1S_TXcH2p8g&url=http://timesofindia.indiatimes.com/tech/tech-news/internet/Penguin-promises-to-scrap-Apple-e-book-deals/articleshow/21333865.cms

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