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This is huge news. I also see it as a major shot back at the publishers. At those kinds of royalties its makes self-publishing a no brainer for many types of books. If you are a new author hoping to become the next Rowling or Meyers you might want to use a big publisher (if you can get one to accept you). However, even then you may want to start with Amazon and then contract with a big publisher after proving yourself (and nothing says you have to give up your ebook rights). Even huge blockbuster authors can take advantage of this -- they have the clout to retain their ebook rights.
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