[jamesjyu]

Yep for any reputable publication, the rights revert to the author after some reasonable amount of time. Then they can sell option rights or expand etc however they see fit. (If a pub asks for rights in perpetuity be VERY wary!)

Optioning for TV or film is usually the most lucrative, but can be very difficult, especially for new writers breaking into the field. This is especially true for short stories. One big exception is Arrival, which was based on Ted Chiang’s short story, which have paved the way for other short stories to get optioned in similar fashion.