Amazon and Hachette have resolved the dispute that caused authors, including two very important Stephens (King and Colbert), to speak out against the online retailer. The deal was announced this morning, and though details have not been made public, a new multiyear contract was signed and Hachette won the ability to set the prices for its e-books, the New York Times reports. "This is great news for writers," says Hachette's chief executive. "The new agreement will benefit Hachette authors for years to come. It gives Hachette enormous marketing capability with one of our most important bookselling partners."
As for Amazon, an exec says it is "pleased with this new agreement as it includes specific financial incentives for Hachette to deliver lower prices, which we believe will be a great win for readers and authors alike." During the dispute, Amazon discouraged sales of Hachette books via shipping delays, and as of this morning some titles were still showing those delays, including one novel said to ship "in 1 to 4 weeks." (Last month, Newser founder Michael Wolff suggested publishers like Hachette get into the bookselling business.)