Big publishers sign deal, ebook prices expected to fall: Competition Bureau
OTTAWA - Four major publishers of electronic books have signed an agreement with the Competition Bureau that is expected to lower prices for consumers by 20 per cent or more.
The publishers have agreed to scrap clauses in their distribution contracts that keep ebook retailers from offering discounts.
The agreement follows an 18-month investigation into the ebook industry by the federal agency.
The bureau says the previous practice of banning discounts effectively reduced competition.
The deal covers Hachette Book Group, HarperCollins, Macmillan and Simon & Schuster, which publish many of the best-selling ebooks.
The bureau says a similar move in the United States produced discounts of 20 per cent or more for consumers.
"This agreement should benefit Canadian consumers by lowering the price of ebooks in Canada," John Pecman, the federal commissioner of competition, said in a statement.
"Businesses operating in the digital economy must realize that anti-competitive activity will not be tolerated, whether it occurs in the physical world or the digital one."
Booknet Canada reported last year that ebooks made up about 15 per cent of sales.
Read more Business News
- Judge: Banishment OKKamloops
- Weed oil fire burns twoKelowna
- Dinner raises more than $15kKelowna
- Rose vows to end wasteMunicipal Elections 2014
|QHR Technologies Inc||1.11||+0.06|
|Anavex Life Sciences||0.19||-0.0015|
|Copper Mountain Mining||1.94||+0.09|
|Sunrise Resources Ltd||0.06||0.00|
|Mission Ready Services||0.45||+0.06|
This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...
Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...
The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...