Amazon and Publisher Simon & Schuster Reach Multiyear Deal

Amazon (AMZN) and Hachette Book Group are still in a months-long standoff, but the online retailer has reached a multiyear agreement with another major New York publisher, Simon & Schuster. Amazon and Simon & Schuster both have expressed satisfaction with the deal. Amazon has issued a statement saying the agreement would help both sides. Simon & Schuster sent a letter to its authors and their agents, saying the agreement was 'economically advantageous.' Amazon has been slowing deliveries and limiting availability for numerous Hachette books, including Tina Fey's 'Bossypants' and Sherman Alexie's 'The Absolutely True Diary of a Part-Time Indian.' Amazon and Hachette have reportedly been unable to agree on how to share e-book revenues. Simon & Schuster authors include Stephen King and Walter Isaacson. The agreement is for both print and digital books.