WASHINGTON -- The Justice Department has reached a proposed settlement with Holtzbrinck Publishers LLC, which does business as Macmillan, one of five major book publishers that allegedly conspired with Apple Inc. to raise e-book prices.
The government is continuing its case against Apple but has now reached agreements with the five publishers.
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The government alleges the five companies and Apple worked together to raise retail e-book prices and eliminate price competition. The government says competition had reduced e-book prices and the retail profit margins of the booksellers.
The proposed settlement still needs approved by a federal judge in New York. It says Macmillan will lift restrictions on discounting and other promotions by e-book retailers. It will be barred from entering new agreements with similar restrictions until December 2014.