In a sudden and awkward about face, Amazon posted an announcement that it will be folding to demands by Macmillan to begin charging $15 for the publisher's e-books, as opposed to Amazon's standard pricing of $9.99.
Last week, Amazon pulled Macmillan's books from the Kindle store in protest over the publisher's request for the bookseller to raise prices of their titles from $10 to $15 dollars.
"Macmillan, one of the “big six” publishers, has clearly communicated to us that, regardless of our viewpoint, they are committed to switching to an agency model and charging $12.99 to $14.99 for e-book versions of bestsellers and most hardcover releases." Amazon wrote in a public announcement on their website.
The Amazon vs. Macmillan debacle came to a crashing halt less than five days after Apple unveiled it's new iPad device, announcing that it intends to sell Apple iBooks through a special iPad app. With Apple's e-book model, publishers will be able to charge $12.99 to $14.99 for most general fiction and nonfiction titles. Similar to the deal with app developers, Apple will keep 30 percent of each sale from their iBookstore, and publishers will take 70 percent.