Amazon.com Inc. and Penguin Random House, the world's largest consumer book publisher, have reached terms covering the sale of digital and physical books in the U.S. and U.K.

Both companies declined to specify the length of the new contract or the start date. Amazon, in a statement, described the pacts as "long-term agreements."

Penguin Random House, which is majority owned by Bertelsmann SE & Co., said in a statement that "we are still in business with Amazon, and with all our retail partners, and will continue to be."

News of the deal was earlier reported by The Bookseller.

Penguin Random House is the last of the five major book publishers to sign a new contract with Amazon. Negotiations across the industry have often become publicly contentious in recent years as the online retailer's power has grown. Last year, Amazon and Lagardere SCA's Hachette Book Group had a lengthy and bitter dispute that focused primarily on e-book pricing and how revenue should be shared. They reached a new agreement in November, but only after Amazon took steps to block the preordering of Hachette titles and delay shipments of some books.

An agreement in late October between Amazon and CBS Corp.'s Simon & Schuster helped pave the way for a deal between Amazon and Hachette. In December, Amazon signed a multiyear agreement with Macmillan, a unit of Germany's Verlagsgruppe Georg von Holtzbrinck GmbH, followed by a multiyear pact with HarperCollins Publishers this past April. HarperCollins and The Wall Street Journal are owned by News Corp.

Those agreements enabled publishers to set the consumer prices of their digital books but included incentives for publishers to offer lower prices to consumers. A spokesman for Penguin Random House declined to comment on the new terms with Amazon.

The No. 1 best-seller on Amazon on Thursday was E.L. James's "Grey: Fifty Shades of Grey as Told by Christian." The erotic novel, a companion volume to Ms. James' "Fifty Shades" trilogy, is published in the U.S. by Vintage Books, an imprint of Penguin Random House. "Grey" went on sale on Thursday.

Write to Jeffrey A. Trachtenberg at jeffrey.trachtenberg@wsj.com

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