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Apple

Submission + - US Justice Dept threatens to sue Apple for colluding to inflate eBook prices. (wsj.com)

ozmanjusri writes: "The US Justice Department has warned Apple that it intends to sue them for colluding with several large publishers to inflate the price of eBooks, according to the Wall Street Journal.

While all parties concerned declined to comment, it appears the lawsuit results from Apple's push to move eBook sales to an "agency model," where Apple would take 30% of the publishers set price. Crucially, Apple also stipulated that publishers could not allow rival retailers to undercut them.

Steve Jobs was quoted as saying of the agreement "You set the price, and we get our 30%, and yes, the customer pays a little more, but that's what you want anyway"."

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US Justice Dept threatens to sue Apple for colluding to inflate eBook prices.

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