Assuming some nominal or zero starting fee. The author can choose to sell his rights at the beginning, or can choose to keep the rights.
If x years later, the renewal comes up and isn't worth it, then he doesn't have to pay it. the value to the author isn't worth the value to the public. If a mega corp comes along and buys it, they have taken on a risk that it will be worth more in the future, and the author has gained some extra income.
If the mega corp think its worth buying the rights, theres probably a good business case for the property, so the author should be able to get the money somehow. If not, the mega corp is giving the author a nice bonus.
Assuming some nominal or zero starting fee. The author can choose to sell his rights at the beginning, or can choose to keep the rights.
If x years later, the renewal comes up and isn't worth it, then he doesn't have to pay it. the value to the author isn't worth the value to the public. If a mega corp comes along and buys it, they have taken on a risk that it will be worth more in the future, and the author has gained some extra income.
If the mega corp think its worth buying the rights, theres probably a good business case for the property, so the author should be able to get the money somehow. If not, the mega corp is giving the author a nice bonus.