Thursday, September 20, 2012
Media Chiefs Form Venture to E-Publish
Fred R. Conrad/The New York Times
Two powerful entertainment moguls, Scott Rudin, the film and theater producer, and Barry Diller, the chairman of IAC/InterActiveCorp, are joining together to enter the turbulent world of book publishing.
Mr. Rudin and Frances Coady, a longtime publishing executive (former Vintage, Granta and Picador US publisher), have formed a partnership with Mr. Diller in a new venture called Brightline. It will publish e-books and eventually physical books in a partnership with Atavist, a publisher based in Brooklyn with expertise in producing electronic books and articles.
The alliance creates a new competitor in the rapidly changing digital book market, one that is dominated by Amazon, the online retailer, which has roughly 65 percent of e-book sales. Though fledgling, the new venture will enjoy the support of two influential executives who control a wide array of resources in media and entertainment.