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Friday News: Music market controlled by four labels; Walmart says no...

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In the memo, Wal-Mart said the decision was consistent with its overall merchandising strategy. While Wal-Mart dwarfs other retailers in overall sales, it trails Amazon and others online and has been stepping up efforts to increase its presence there. Consumers who buy Kindle tablets such as the new Kindle Fire HD can shop on the devices for more than just digital books, pushing Amazon into further competition with stores. NBC

Sony responded: Peter Shea, general manager for Sony Digital Reading Services, said the retailer recognised “that there is a concern about a perceived devaluation of ebooks”, and that it chose the price point of 20p for some titles “as we see this as such a significant discount off list price that consumers can appreciate it is not the ‘new price of ebooks’.” Guardian