Sydney, Apr.20 (ANI): According to the European Commission, reputed publishing house Penguin has offered commitments, which aim to end the probe into price fixing in its electronic publishing business.
The commission has expressed its doubts over Penguin and other publishers' commitments to limit retail price competition for e-books, however, the companies have also agreed to amend agreements over the next five years so as to make retail prices flexible enough for two-year discounts, news.com.au reports.
The commission has further said that Penguin owner Pearson PLC has made commitments similar to those proposed by other major US, French and German publishing groups and chief e-book distributor Apple for the prices of their e-books in the past.
The Commission has alleged that Penguin has been involved in an 'anti- competitive concerted practice' as revealed through its proposed commitments, adding that these commitments need to be 'market-tested' and then legalized as has been the case with the aforesaid publishers. (ANI)
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