Breaking News: Judge Cote approves DOJ settlement with 3 Publishers
I haven’t read but the last entry but a) I’m not surprised she ruled quickly. I thought she would (hey, I was only off a week) and b) I’m also not surprised it was in favor of settlement. I’ll have far more tomorrow but the PDF is here if you want to read it.
- The judge approves the settlement.
- Within 7 days, the Settling Defendants (Hachette, HarperCollins, and Simon & Schuster) will need to sever their contracts with Apple.
- Within 30 days, the Settling Defendants will need to bring their pricing arrangements in line with the terms dictated in the Settlement Agreement.
- Within 30 days, contracts that restrict an ebook retailers ability to set the price of an ebook or a most favored nation clause must be broken. Amazon would be a retailer with whom publishers have an MFN clause.
- Publishers must designate an Antitrust Compliance Officer to train the employees of the publishers in how to abide by the rules set forth in the agreement; to conduct an audit; provide quarterly reports of compliance to the DOJ, and to maintain a log of communications between “officers and directors” and others if the communication involves selling of ebooks.