EXCLUSIVE: Just about every studio in town waged a concerted courtship for the movie rights to the E.L. James salty romance novel Fifty Shades Of Grey, and all but one today is feeling the sting of being jilted after the author and agent Valerie Hoskins went to the altar with Universal Pictures and Focus Features. Rumors raced all weekend that with 10 studios bidding, numbers passed $5 million upfront against a back end 5% or higher. Neither Universal nor Hoskins would divulge how much Universal co-chairman Donna Langley paid — when I broke the story this morning, I’d heard that it was a bit higher than the $3 million against 3.5% Sony paid for The Da Vinci Code, but many suitors figure it had to be around $4 million against as much as 5% of gross. If the picture sparks a trilogy, that is life-changing money for the former TV executive-turned-author. Since this was the wildest book auction in years and so many heavy hitters spent the weekend obsessing over it, I wanted to get the play-by-play from Hoskins, the British agent who, it turns out, is a real spitfire. I caught her just before she boarded a plane back across the pond with James, who left with a seven-figure publishing deal in one pocket, and a seven-figure movie rights deal in the other.
DEADLINE: Hollywood hasn’t seen a book rights auction like this since…
HOSKINS: It was not an auction.
DEADLINE: Generally, when a property is placed on the block for bids and sells, it’s considered an auction, no?
HOSKINS: My understanding of an auction is something that goes to the highest bidder. I can’t think of a better word for our process but it was not an auction.
DEADLINE: Does that mean you left bigger offers on the table?
HOSKINS: No comment.
DEADLINE: During this auction, the book was characterized in a number of ways that included ‘Mommy Porn.’ What would you call it?
HOSKINS: It’s a love story. People fall in love and they rabidly have sex, because that’s what you do when you fall in love. You do, you do! It’s a love story, a romantic one. I don’t really like the phrase ‘Mommy Porn.’ I guess I don’t mind it that much, but I don’t like it. (more…)