Lord Maurice Saatchi, advertising guru and Tory spokesman in the House of Lords, has joined two other high profile media names to launch ContentIsKing.co.uk. The triumvirate aims to exploit new-media opportunities for actors, authors, scriptwriters and poets.

Partners in the venture are Megalomedia (chaired by Lord Saatchi), publishing house Faber & Faber (chairman, the recently enobled Matthew Evans) and actors/writers agency The Peters, Fraser & Dunlop Group (chaired by commoner Michael Sissons).

Explains Saatchi: “The ownership of electronic literary rights is still a grey area because, in many cases, the contracts were signed long before anyone had even dreamed of the internet.” Adds Evans: "I believe we need someone [as chief executive] who has no link with old media, such as books or newspapers. What is required is someone who is focused entirely on an electronic future.”

The London-based fledgling is expected to launch formally later this year and is currently recruiting a chief executive from a major US online business.

News source: Sunday Business (UK)