UPDATE: Amazon.com (AMZN), Hachette Settle Publishing Dispute

Amazon.com (NASDAQ: AMZN), Hachette resolve publishing dispute.

The NYTimes said the two sides entered into a new multi-year contract along with the settlement.

Hachette CEO Michael Pietsch said, This is great news for writers ... The new agreement will benefit Hachette authors for years to come. It gives Hachette enormous marketing capability with one of our most important bookselling partners.

One Amazon exec was quoted as saying that the company was pleased with this new agreement as it includes specific financial incentives for Hachette to deliver lower prices, which we believe will be a great win for readers and authors alike.

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