Harry Potter publisher Bloomsbury resolves Amazon contract dispute

Bloomsbury Publishing, known for the Harry Potter series, has renewed its supply agreement with Amazon after months of stalled negotiations raised concerns over a major distribution deal.

The contract, initially set to expire last year and extended until January 23, was confirmed on Thursday as an agreement in principle was reached between the two parties.

Amazon UK had earlier stated it would stop selling Bloomsbury's print books in the UK, Europe, and Australia, as well as its Kindle titles globally if the contract fell through. The retailer accused Bloomsbury of refusing to negotiate in good faith during the seven-month negotiation period.

The potential collapse of the agreement could have significantly impacted Bloomsbury, which relies on both traditional stores and e-commerce channels for its sales. Despite the challenges, the publisher reiterated its confidence in achieving its full-year sales and profit targets.