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Dueling cyberbook sales
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May 17, 1999: 2:50 p.m. ET
Amazon.com, barnesandnoble.com offer 50% off Times bestsellers
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NEW YORK (CNNfn) - The Internet book war became a real page-turner Monday as two online dealers played dueling discounts.
First, Amazon.com (AMZN) announced it would now offer a 50 percent discount for all books that make the New York Times bestseller list, a widely used measure of the most popular books in the United States.
The new discount will apply to both hardcover and paperback titles in the categories of fiction, nonfiction and "how to" books.
Not to be outdone, barnesandnoble.com, the Barnes & Noble (BKS) Internet site that is slated to go public soon, came up with its own 50 percent discount on New York Times bestsellers as well.
The cybershops have been locked in a heated battle for Internet customers. Both claim they already offer discounts of up to 40 percent on other bestselling and hard-to-find books.
Shares in Amazon.com were down 5-1/16 at 127-5/16 Monday, while Barnes & Noble was down 1-3/16 at 33-1/8.
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