Today's Hard|Forum Post
Today's Hard|Forum Post

Wednesday June 05, 2013

It Was Apple's Way Or The Highway, E-book Execs Say

I find it hard to believe Apple has a "my way or the highway" attitude. It just doesn't seem like the Apple that is adored by millions. stick out tongue

David Shanks, CEO of Penguin Group USA, and Carolyn Reidy, CEO of Simon & Schuster, said the price-matching clause in their contracts with Apple would have hurt them financially had they not also moved all other e-book retailers to a model where publishers set prices. The publishers had previously sold books at a heavily discounted rate on a wholesale basis, something they couldn't afford given the cut Apple took on sales.