NEW YORK (TheStreet) -- Amazon issued a statement acknowledging it is buying less print inventory and "safety stock" from publisher Hachette until the two can work out a contract that includes better terms on e-books.
Amazon (AMZN) said it's not optimistic about settling its dispute with book publisher Hachette soon.
The online retailer issued a statement defending its moves to discourage customers from buying Hachette books until the two can work out a contract that includes better terms on e-books.
Amazon said it is currently buying less print inventory and "safety stock" on titles from Hachette than usual and also said it is no longer taking pre-orders on future titles. What does that mean for customers? You can still purchase Hachette books through the retailer, but Amazon will only purchase the book once you've bought it -- resulting in slower shipping and no discounted prices. Future titles like J.K. Rowling's highly anticipated "The Silkworm" are no longer available to pre-order.
Amazon said the dispute is all for its customers. "Negotiating for acceptable terms is an essential business practice that is critical to keeping service and value high for customers," the company said. Amazon added that those who want a new book by a Hachette author quickly should go to one of its competitors.
In New York, I'm Brittany Umar for TheStreet.
-- Written by Brittany Umar in New York.