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S&S signs deal for share of film profits

14.08.08

Simon & Schuster has struck a deal in the US with the management company Gotham Group to secure a share of the spoils from future book-to-film adaptations.

According to the New York Times, "the next time Simon & Schuster Children’s Publishing owns the film rights to a book — and that book is eventually turned into a movie — the publisher will be promised its own piece of the pie".

The publisher plans to test-drive the new deal with a book series by the filmmaker David O Russell, scheduled for publication in the fall of 2009.

“It’s about having more control in the process,” said Rick Richter, president and publisher of Simon & Schuster children’s publishing. “Typically publishers tend to stick their heads in the sand after the book hits Hollywood.”

In exchange for a percentage of the revenues, Simon & Schuster may agree to publish a book long before it is written, based on an assurance from the Gotham Group that it has Hollywood potential. Simon & Schuster will also receive money when its children’s books are turned into video games, comic books or other properties.

New York Times

US Media Simon and Schuster Global

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