SAN FRANCISCO (Reuters) – Shares of Amazon.com Inc (AMZN.O) tumbled more than 7 percent on Monday, fueled by fear that the global online retailer will increase e-book prices as it caves in to pressure from publishers seeking to protect their margins.
The company alerted its customers on Sunday that it had bowed to pressure from publisher Macmillan, which wanted to charge $12.99 to $14.99 for its books sold at the Kindle e-reader bookstore.
Full story: Amazon shares fall 7 percent on publishing fracas | Reuters