Foster sells controlling stake in Rights House

Foster sells controlling stake in Rights House

The Rights House co-chief executive Michael Foster has sold his controlling stake in the literary and media agency.

The Rights House was created in 2010 when Foster¹s MF management company merged with agency Peters Fraser & Dunlop, in a deal which meant Foster held just over 50% of the company.

Co-chief executive Caroline Michel confirmed the sale of Foster's shares back to the company, saying: "Michael decided he didn't want to be an agent any more so he was a very happy seller and we were a very happy buyer. Business couldn't be any better and we are moving ahead on all sorts of new projects."

Foster is said to be taking with him a number of clients from his current list, which includes BBC Radio 2 Breakfast host Chris Evans and actor Sacha Baron Cohen.

Among The Rights House's recent initiatives has been its involvement as a founding partner in Bloomsbury Reader, which sees out of print works by authors represented by the agency published as e-books or P.O.D. titles by Bloomsbury.