The publisher has agreed to terminate its pricing deal with Apple and refrain from making "most favored nation" pricing pacts for five years.
Penguin has vowed to change its pricing strategy for digital books, including terminating an e-book pricing pact with Apple, to resolve an antitrust probe by the European Union.
As part of the deal, Penguin has agreed to terminate existing agency agreements -- those pacts that allow a publisher, not a retailer, to set prices -- and will refrain from adopting "most favored nation" pricing clauses for five years. Those had prevented retailers such as Amazon from undercutting Apple's e-book prices.{Tech-Wolfs}.
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