Filed under: Deals, Newsstand, Miramax Well, I guess they don't call The New York Times the 'Paper of Record' for nothing; because not only are they the final word in journalism, but now Hollywood has come knocking for script ideas. Variety has announced the latest Times film deal, proving that the paper is going full steam into the movie business. Monika brought us an update on a Miramax deal for the film rights to the article, This Strange Thing Called Prom, but that is only the tip of the iceberg for the Old Grey Lady. Now that the newspaper and magazine business has become what they call "economically challenged," everyone is on the hunt for some new revenue streams and Hollywood seems to be paying off. The current deals will see NYT writers share in the profits of the movie deals. But unlike the past, the newspaper will be the broker of the deals, instead of just subsidizing the articles, only to watch the writer hit a big pay day after optioning the piece. The latest deal with Miramax marks the 15th property (that's right: 15) that the NYT has sold to studios since it first signed up with ICM. Some of the other high profile deals included a football vehicle for Jack Black, a political suspense tale that was purchased by Paramount for Tom Cruise (but I guess we all know how that particular deal probably turned out) and the recently announced J.J Abrams thriller. But the NYT is not alone in looking for bucks on the big screen; high profile papers like The Wall Street Journal have also been getting in on the act. So is it official? Has Hollywood become so strapped for fresh ideas that they can only make it to their front doorstep for something new? Sound off below on this trend and tell us what you think. Read | Permalink | Email this | Comments
