From
Crain's New York Business
Quote:
|
In its most aggressive move yet into territory traditionally occupied by the major New York houses, the Seattle-based e-retailer took part last week in a heated auction for four books by self-published bestselling novelist Amanda Hocking. Executives at several houses said they knew of no other instance in which the company had competed with major publishers for a high profile commercial author.
|
Quote:
St. Martin's Press ended up winning the auction, paying $2 million for the series of four novels, but Amazon actually made the highest offer of the six bidders, according to insiders.
Amazon had insisted on exclusivity for the e-book edition, said a high level publishing executive familiar with the deal. That made the offer less attractive to the author and her literary agent.
|
Amazon is clearly serious about competing directly with publishers in all ways that make sense financially.