So, just as I reported, author Janet Evanovich’s agent/son Peter is shopping a new book deal after St. Martin’s Press turned down a $50 million, 4-book extension. (St. Martin’s Losing Biggest Fiction Author) I’m told the deal is being shopped to other publishers. The ask is still $50 million, or $12.5 million per book. But there is skepticism that another publisher will ante up, and Evanovich might get her best deal by not leaving St Martin’s “family” fold where she has spent the last 15 years. Beyond the fact Evanovich has history with all but two major publishers, the biggest hurdle comes down to accounting. I’m told that such a front-loaded deal puts all the risk on the new books, and the publisher doesn’t have the benefit of writing off losers against backlist books that remain at St. Martin’s Press.
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