Barnes & Noble has added to the chorus of objections to the Justice Department’s proposed settlement with several major book publishers, releasing a statement on Thursday calling the settlement damaging to the industry.
If approved, the settlement will result in higher overall prices on e-books and hardcover books, ultimately harming the American public, the company said in the statement, which was submitted to the Justice Department on Thursday.
“We think that the Department of Justice got this wrong,” Gene DeFelice, the company’s general counsel, said in an interview. “The settlement destroys independently negotiated commercial relationships. It harms authors, innocent publishers and bookstores, including small-business owners. And it also punishes consumers who stand to benefit from increased competition and lower prices brought about by the agency model.”
[Barnes & Noble is standing up for the consumer and for themselves. Click the link to read the entire article.]