Amazon and Hachette reach a deal to settle nasty dispute

Amazon and Hachette Book Group have finally reached a a multi-year agreement, effectively resolving their months-long standoff.

Amazon had been fighting with the Hachette, asking for a bigger portion of e-book revenue, while keeping Hachette's e-book prices at $9.99. The dispute led to Amazon delaying orders of Hachette books.

Hachette's CEO, Michael Pietsch, apparently told the publisher's authors that the deal will allow Hachette to maintain control of pricing. Pietsch said the agreement is "in the long-term interest" of both authors and the publisher.

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