Amazon announced it will have to give in to Macmillan's demands to sell eBooks at higher rates, even though it believes a $14.99 price tag for an eBook is needlessly high.
The announcement comes after Amazon temporarily pulled Macmillan books from its Web site in a dispute over e-book pricing. Macmillan and other book publishers have asked Amazon to increase the sales price of e-books on its Web site. But Amazon stood firm in its contention that anything above $9.99 was too high--that is until now.
"We have expressed our strong disagreement and the seriousness of our disagreement by temporarily ceasing the sale of all Macmillan titles," Amazon's statement read. "We want you to know that ultimately, however, we will have to capitulate and accept Macmillan's terms because Macmillan has a monopoly over their own titles, and we will want to offer them to you even at prices we believe are needlessly high for e-books."