S&S signs deal for share of film profits

<p>Simon &amp; 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. </p><p>According to the <em>New York Times</em>, &quot;the next time Simon &amp; Schuster Children&rsquo;s Publishing owns the film rights to a book &mdash; and that book is eventually turned into a movie &mdash; the publisher will be promised its own piece of the pie&quot;.</p><p>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.</p><p>&ldquo;It&rsquo;s about having more control in the process,&rdquo; said Rick Richter, president and publisher of Simon &amp; Schuster children&rsquo;s publishing. &ldquo;Typically publishers tend to stick their heads in the sand after the book hits Hollywood.&rdquo;</p><p>In exchange for a percentage of the revenues, Simon &amp; 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 &amp; Schuster will also receive money when its children&rsquo;s books are turned into video games, comic books or other properties.<br /></p>