States want to give consumers $69 million worth of refunds to compensate them for overpriced ebooks. How much will you get? And how will this affect the publishing industry? Here’s a simple guide to what’s really going on.
Ebook buyers in 54 states and territories are set to receive $69 million in a settlement between the states and HarperCollins, Hachette and Simon & Schuster. Those who bought agency-priced ebooks between April 2010 and May 2012 are eligible for payment if the settlement goes through.
Apple and book publishers already have their hands full after the Justice Department sued them in New York today for allegedly fixing the price of e-books. Now, state governments are seeking their own pound of flesh.