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Originally Posted by murraypaul
Does the court have the power to void the current contracts with Amazon/B&N and other retailers, if the retailers wish to keep them? Given that Amazon et al are not a party to these proceedings?
If not, then those MFN clauses would remain until the current contracts end.
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The terms of the settlement:
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According to the filing, settling publishers will be immediately required to do the following:
•Terminate its current contracts with Apple within seven days of the court’s acceptance of the settlement;
•Terminate any other contracts with e-book retailers that restrict the retailer’s ability to set final prices for books or contain a “most favored nation” provision prohibiting price competition, as soon as possible;
•Renegotiate contracts with Apple and other retailers, with a two-year prohibition on any contract that prevents retailers from discounting retail prices (see below);
•Notify the Department of Justice before entering into any joint ventures between it and another publisher related to e-books;
•Designate an antitrust compliance officer and provide the DOJ with a copy of its agreements with any e-book retailers quarterly for five years.
Furthermore, any future agreements between the settling publishers and e-book retailers will have to observe serious restrictions, at least for a time. For two years, e-bookstores must be permitted to discount retail prices of books at their own discretion.
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