Amazon, Hachette Make Nice

Bookworms everywhere can relax. Amazon and Hachette announced Thursday that their bitter dispute has ended and a new multiyear contract has been signed. While details of the deal have not been announced, both sides have said they are happy. Hachette reportedly gets the ability to set e-book prices, which was at the heart of the fight. “This is great news for writers,” said Michael Pietsch, Hachette’s chief executive. “The new agreement will benefit Hachette authors for years to come.” Amazon said that it is “pleased” with the deal as it “includes specific financial incentives for Hachette to deliver lower prices.” Hundreds of famous authors had signed on to a letter calling out Amazon for perceived bullying tactics during the negotiations.