The Weinstein Company, which has undergone a series of cutbacks and layoffs at its senior levels, is merging its publishing arm with Perseus Books Group, the company announced on Monday.
In a news release, Weinstein said it was striking up a joint venture with the independent publisher, and giving them several Weinstein titles to publish.
“The Weinsteins have incredible consumer instincts and unparalleled access to talent that the public wants to read or read about,” said David Steinberger, CEO of the Perseus Books Group. “In joining forces with The Weinstein Company, we get to do what we do best – editing, marketing, digital and physical distribution – while benefiting from the Weinsteins’ creative prowess.”
Harvey Weinstein said, “Perseus is an entrepreneurial publisher that is the ideal partner for our publishing program moving forward. Our core film business presents us with many opportunities to generate ideas that translate into best selling books in both physical and digital formats. I look forward to a very lucrative partnership for the future.”
Under the partnership, the two companies will jointly develop new book ideas. The first books to be published under the partnership will include All Things at Once by Mika Brzezinski, the long-awaited memoir and beauty guide by Raquel Welch, and The Overnight Socialite by Bridie Clark.
Perseus beginning December 1, 2009 will represent all books previously published by Weinstein Books in the market. These include the New York Times bestsellers My Remarkable Journey by Larry King, Quantum Wellness by Kathy Freston, and The Mad Ones by Tom Folsom.
Weinstein Books publisher Judy Hottensen will remain in place, the company said, and participate in the joint venture.