Barry Diller and Scott Rudin Form E-Book Publishing Venture

The following is an excerpt from an article in:


The New York Times
Wednesday, September 19, 2012

Barry Diller and Scott Rudin Form E-Book Publishing Venture

By DAVID CARR

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, 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.

Atavist and Brightline will exchange an undetermined amount of minority equity interests in each other’s ventures, and IAC will provide $20 million in capital to build out Brightline as a publisher in addition to making investments in Atavist.

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