Madeline McIntosh and Don Weisberg, who have served as CEO of Penguin Random House US and Macmillan, respectively, have joined forces with Nina von Moltke, most recently president and director of strategic development at PRH US, to form a new publishing company, Authors Equity. As its name implies, the publisher will operate outside of traditional publishing business models, offering no advances but paying authors a high percentage of a book’s profits—a model used by some other types of hybrid publishers.
Five of the company’s investors are authors, including James Clear, Louise Penny, and Tim Ferriss.