U.S. Files Antitrust Charges Against Apple, Book Publishers (UPDATE)

The U.S. Justice Department just formally charged Apple, along with book publishers, Hachette, HarperCollins, Macmillan and Penguin in regards to e-book pricing. The DoJ alleges that the companies colluded in anticompetitive practices involving pricing and sales. This comes after a year-long investigation into the matter after Apple switched to an "agency" model where they retained a portion of the sale of e-books sold through its platforms. This is said to have resulted in higher prices industry-wide, since the power to set prices rested in the hands of only a few sellers. Bloomberg reports that several publishers are seeking to settle with the DoJ. Simon & Schuster, Lagard?re SCA?s Hachette Book Group and HarperCollins could settle as soon as today. (Update: They just settled) However, Apple and Macmillian reportedly refused to engage in settlement talks, so far denying the claims. This might get ugly.

boehner john boehner jorge posada maurice sendak demi moore hospitalized james farentino somali pirates