Amazon (AMZN) has signed a deal with publisher Simon & Schuster, which is owned by CBS (CBS).
Simon & Schuster and Amazon have been working toward a deal for close to three months. The deal has both the publisher and online retailer happy as both see it as “economically advantageous,” reports CNNMoney.
The deal between Amazon and Simon & Schuster will allow the publisher to have a fair amount of control of e-book prices. There will be some exceptions and limitations to how the publisher can price e-books, CNNMoney notes.
“I think it will serve to make Hachette more frustrated with their inability to make a deal knowing that one of their competitors has reached a deal,” Richard Pine, a partner at InkWell Management, told The Wall Street Journal.
AMZN shares were up 2% as of Tuesday afternoon.
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