I wonder if that's related to CR going to a subscription model as mentioned by michael_b up above. I could understand it better (not agree with it, mind) since CR is charging customers a flat $12.99/month, $59.99/year rate no matter which books or how many books are read. There's no way to divvy that out between X number of writers. CR takes copyright, pays the author a flat rate and they're done with you. But the books (or, at least, some of them) are also available individually through Amazon for the Kindle, for example. So wouldn't they still normally owe royalties on those? Or not if they took copyright?
I think their hybrid subscription/individual volume model is making my head hurt. Long story short, listen to James.
ETA: Ninja'd by Htrent--that contract makes much more sense, except they can hold their rights for the copyright of the book? Lifetime of author plus 70 years? ETA: removed stupid question already answered.