A two-week negotiation between Amazon and IPG has resolved the dispute, but specific details are yet to be known.
Gadget website electronista believes “IPG has offered to give up its own share of the sales revenue on the returned titles through the end of August to help make up for authors’ lost revenue”.
The issue arose when Amazon proposed a new deal with IPG that would see authors receive lower revenue from Kindle book sales. Amazon rejected a counter-offer from IPG and removed the ebooks from its online store.
Five publishers and Apple were charged by the US Department of Justice for colluding to increase the price of ebooks sold on the iBookstore in order to break the Amazon monopoly.
Apple, Macmillan and Penguin are awaiting court appearances, while Hachette, Harper Collins and Simon & Schuster have agreed to compensate buyers in an out-of-court settlement.