Amazon.com, Inc. (AMZN) Is Hurting Publishing Companies and Bookstores: Carol Weston

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Amazon.com, Inc. (NASDAQ:AMZN) appears to have far more challenges to chew in its pricing disputes with publishers and authors. Bestselling author Carol Weston was on CNBC to discuss the issues around Amazon from the past couple of weeks.

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Amazon.com, Inc. (NASDAQ:AMZN) and publishing company Hachette are in a longstanding dispute that has stretched for months now with no ceasefire signs anywhere. Amazon, the online retailer whose revenue in the second quarter jumped 23% to $19.34 billion and even surpassed estimates, is accused of placing unnecessary sanctions against Hachette authors and more than 900 authors have already launched an attack on the company through an open letter.

Discussing the dispute, Weston praised Amazon.com, Inc. (NASDAQ:AMZN) on one side, but blamed them on another one.

“We like Amazon, they deliver fast books, they deliver cheap books and we readers and writers like that. But the problem is that they are making books so darn cheap, which sounds good, but basically they are really hurting publishing companies, hurting authors and hurting manpower bookstores, and that is not something that any readers want,” Weston said.

Amazon.com, Inc. (NASDAQ:AMZN) and Hachette disagree on various issues, especially on the fact that the former somehow doesn’t appreciate the efforts that publishers put in nurturing authors and getting books ready for readers. It appears to Hachette as though Amazon is only interested in its own profits and market dominance at the expense of the publishers and authors.

As of killing brick-and-mortar book stores, Weston said such stores are important for a vibrant community.

“We want the manpowered bookstores to be healthy there so important to make a community vibrant. […] You want to see what books you want rather than just going to a big Internet and knowing that this one. But you want to kind of get fine books along the way to the books,” she added.

Disclosure: none

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