SAN FRANCISCO, May 27 (Reuters) - Amazon.com Inc does not expect to reach a swift resolution in its contract dispute with publisher Hachette Book Group, the company said in a statement on Tuesday.
Amazon is buying fewer print books from Hachette and is no longer taking pre-orders on titles that will be published in the future.
“Unfortunately, despite much work from both sides, we have been unable to reach (a) mutually-acceptable agreement on terms,” Amazon said, adding that Hachette has operated in “good faith.”
“Though we remain hopeful and are working hard to come to a resolution as soon as possible, we are not optimistic that this will be resolved soon,” Amazon said. (Reporting by Deepa Seetharaman; Editing by Lisa Shumaker)