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Sony was simply not willing to sell at the price point that I want.
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You seem to be making the assumption that the Sony bookstore is the only place to get ebooks for a Sony Reader. I've only rarely used the Sony bookstore, mostly I've used Kobo, Borders (for the brief period that it was live), ebooks.com and 3 different libraries. When I'm looking for an ebook I start with the libraries first, and if it's available at one of them I don't mind going on a waitlist. Then I check ebooks and Kobo. Since the Agency pricing model went into effect over a year ago there hasn't been any difference in price between Amazon and other ebook stores for ebooks from big publishers anyway.