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Maybe, but this business is moving very fast. Perhaps they'll figure out a business model that will allow them to threaten to pull their books, such as an aggregate shop front for the big houses
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I think this is exactly where they are going. They are already trying something like this in the UK (Google Anobii) , and they seem to have something in mind like this in the US.
Macmillan seems to be going its own way with its SFF line (Tor), which is starting its own store this summer. Of course, if they direct sell from their own stores, that's the agency pricing model turned up to 11.