According to Publishers Weekly and several other industry sources, Random House has formed a partnership with Focus Features (part of NBC/Universal) to produce movies -- from RH books.
From what I can tell from the news reports, I can't see a downside to this. According to RH, no author will be required to sign over film rights (which can be worth a pretty penny) if they sign with the house, but the production company will only make movies from RH books.
They're not looking for "blockbusters" and have a moderate budget (well, for Hollywood it's moderate -- $20M a movie) which means the big name authors (Dan Brown, John Grisham, etc) wouldn't be considered.
But, that means they would be looking at the smaller, visual, solid stories. At least, that's my interpretation.
What do you all think? Is there a book that you think would make a great movie, but might be overlooked by the traditional Hollywood studios?