Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The e-retailer is collaborating with a division of Warner Bros. Television Group, with an eye to turning the books into TV shows, movies and digital entertainment.
Amazon.com Inc., No. 1 in the Internet Retailer Top 500 Guide, has launched Alloy Entertainment, a digital-first imprint for young adult, new adult and commercial fiction. Amazon is working on the publishing line with Alloy Entertainment, which is part of Warner Bros. Television Group.
Alloy Entertainment writers will earn advances and monthly royalties, Amazons says.
The new operation also aims to develop books as television shows, movies and digital entertainment. The imprint today has introduced its first three titles: Heather Hildenbrand’s “Imitation,” which concerns a clone; Aimee Salter’s “Every Ugly Word,” billed as a coming-of-age tale; and Tracy Banghart’s “Rebel Wing,” a sci-fi story.
“Alloy has a tremendous track record developing stories, like ‘Gossip Girl,’ ‘Pretty Little Liars’ and ’The Vampire Diaries,’ that our customers love,” says Jeff Belle, vice president of Amazon Publishing.
Amazon Publishing is the full-service publishing arm of Amazon. The unit publishes print books, e-books, audio books and Kindle Serials and Singles.
The move comes during a time when Amazon is still in a dispute with book publisher Hachette over the pricing of both printed volumes and e-books. Amazon wants the freedom to discount heavily, in part to make its Kindle e-book reader more attractive, while publishers like Hachette fear low online prices will inevitably lower the prices their titles can command in physical stores and online. After the publisher suggested it was defending its authors, Amazon recently offered to give 100% of Hachette e-book royalties to the authors—an offer Hachette rejected.
Earlier this week, the e-commerce giant launched a marketplace where consumers can buy more than 300 products created using a 3-D printer. That followed a move earlier this month by Amazon to increase the streamed music available to members of its Prime two-day shipping program.