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If I were Amazon, I too would tell Macmillan to pound sand. What Macmillan is demanding is that Amazon give up their position as a retailer and instead become one of Macmillan's agents. Macmillan will then set the price that Amazon is allowed to sell books. Not to mention that Macmillan wants to demand the price of ebooks be set at $15, which is the price at which Amazon typically sells the hardcover. Why on earth would Amazon agree to this arrangment? Oh yeah, because Apple is dumb enough to do so.
My prediction -- Ten years from now, Macmillan is in bankruptcy, and Amazon has a couple blockbuster novels by their own authors, who were attracted by Amazon's 70% royalties.
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