European Commission and Penguin finally wrap things up in Apple e-book pricing case

Over six months after the European Commission reached an e-book pricing settlement with four publishers and Apple, the EC has approved a similar settlement with Penguin.

Penguin, which was trying to clear the decks for its upcoming merger with Random House, had offered its proposed settlement terms in April. They include, in particular, the termination of on-going agency agreements and the exclusion of certain most-favored-nation (MFN) clauses in Penguin’s agency agreements during the next five years. Penguin also offered to give retailers freedom to discount e-books, subject to certain conditions, during two years.