Deal Fit For A King

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Venture to publish Kings new writings could mean up to $5 million for his estate Time Warner and Intellectual Properties Management Inc. (IPM), the Atlanta based firm that serves as exclusive manager of the estate of Dr. Martin Luther King Jr., recently announced a multimilliondollar joint publishing enterprise that will result in the publication of seven new works from the King family, including a posthumous autobiography of Dr. King based entirely on his own writings.

“This presents a special opportunity for us,” says Gerald M. Levin, chairman and CEO of Time Warner. “This kind of distinctive relationship gives us a chance to come together with an historic family, and will allow us to focus on a seminal period m our history.

Laurence Kirshbaum, chairman of Time Warner Trade Publishing and CEO of Warner Books, says Time Warner was committed to spending more than $5 million. Phil Jones, president of IPM, estimates that his company will make approximately $10 million in sales, half of which will go to the King estate. The new works, which will include memoirs from Coretta Scott King and son Dexter King, would be available in multimedia formats. The first new publication, The Autobiography of Dr. Martin Luther King, Jr., is scheduled for publication in late 1998, the 30th anniversary of King’s assassination.