The tech giant's potential purchase could help it compete in an area dominated by Amazon's prized e-book business, according to TechCrunch.
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The settlement hinges on the success or failure of the company's appeal of a ruling that found it conspired with publishers to fix prices.
The settlement comes less than a month before the scheduled beginning of the trial, in which $840 million in damages was sought from Apple.
The petition sought emergency stay pending the resolution of an appeal concerning the case's class status.
Judge says the antitrust lawsuit filed by state attorneys general has already been delayed two months and should begin on July 14.
Judge rejects Apple's argument that states lack standing in the case, which seeks as much as $840 million in damages.
iBooks is the go-to reading app to download on iOS devices, and Apple has done a good job making the interface intuitive and continually adding useful features.
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Apple calls judge's ruling that it conspired with publishers to fix e-book prices "a radical departure from modern antitrust law and policy."
US Judge Denise Cote, who ruled that Apple conspired to fix e-book prices, denies the company's attempt to throw off a monitor that was appointed to oversee its antitrust compliance.
The tech giant and its court-appointed antitrust monitor are having a hard time seeing eye to eye. Apple is objecting to the lawyer's "excessive fees" and "inappropriate manner."