Apple, publishers settle EU e-book investigation with no fines

The European Commission announced on Thursday that it reached an agreement with Apple and four major book publishers that addresses concerns over possible e-book price-fixing. Simon & Schuster, Harper Collins, Hachette Livre, Macmillan, and Apple all agreed to modify existing agreements to allow retailers to discount e-books for two years and to eliminate "most-favored nation" clauses for five years. The Commission is satisfied that the changes address anti-competition issues and has suspended its investigation without levying fines or other sanctions.