News Summary: Apple guilty of fixing e-book prices

AP News
Posted: Jul 10, 2013 2:43 PM

THE NEWS: A federal judge ruled that Apple Inc. broke antitrust laws and conspired with publishers to raise electronic book prices.

THE CHARGE: The government had said Apple and five major publishers agreed to a pricing policy that forced millions of consumers to pay several dollars more for most online books. U.S. District Judge Denise Cote quoted Steve Jobs, who died in 2011, as saying he understood publishers' concerns that Amazon's $9.99 price for new releases was eroding the perceived value of their products and that Apple was willing to try pricing e-books at $12.99 and $14.99.

NEXT STEP: Apple plans to appeal.