http://www.inside.com/story/Story_Cached/0%2C2770%2C6322%2C00.html
Wednesday, July 05 10:11 a.m. Another day, another
e-publishing announcement. Or so it seems in the book world
lately as publishers scramble to stake a digital claim in a
field full of nontraditional upstarts like MightyWords,
Xlibris and iUniverse.
The latest announcement came during the final week of June
when agent Laura Nolan of Sobel Weber revealed that she is
hosting what may be the first-ever auction for an e-book by a
well-known writer. On July 10, Nolan will accept best bids
for Widespread Panic, a collection of five fiction and
nonfiction pieces by L.A. Confidential author James Ellroy.
All of the pieces have been published in GQ magazine, but
Sobel Weber retains the e-book rights.
Nolan is expecting interest from both ''traditional and
nontraditional publishers,'' and the winner will be
responsible for the technical aspects of the project, as well
as the marketing and distribution through online channels. No
floor has been set for the auction, but Nolan says she will
look at more than just the advance. One of the major areas of
contention between agents and e-publishers has been the
structure and rate of royalty payments. Mainstream publishers
traditionally want to pay a standard royalty
(usually around 12 percent), while e-book outfits usually
offer close to a 50-50 split.
Ellroy's auction comes as the e-publishing market is
expanding, probably thanks to the highly successful spring
publication of Stephen King's Riding the Bullet as a
downloadable book.
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