Deadline’s Mike Fleming first reported in July that Barry Diller and Scott Rudin were in exploratory talks for the e-book business and now it’s official. Rudin and publishing exec Frances Coady have formed a partnership with Diller in a venture called Brightline, the New York Times reports. It will publish e-books and eventually physical books in a partnership with Brooklyn-based publisher Atavist, which has expertise in producing electronic books and articles.

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

Brightline and Atavist will remain separate for the time being and the books will be published under the Atavist name. No author has yet been signed by Brightline.

Related: Barry Diller And Scott Rudin In Talks To Launch E-Book Business

Simon Love
2 years
Does Scott Rudin get first look on movie rights for the juiciest properties?
Mark
2 years
It will be interesting to see how aggressive they get. The boilerplate agreements could be fascinating. Book...
A. Writer
2 years
Writers! Remember where these two were hot-housed! They were schooled in the fine art of "Hollywood Bookkeeping"......