Barack and Michelle Obama reach book deal
Publisher Penguin Random House announced Tuesday it will publish books by former president Barack Obama and former first lady Michelle Obama. The company has acquired worldwide publishing rights for two books, one from each of the Obamas.
The New York Post offers some background on the size of the deal:
The former president and first lady are writing separate books, but selling them together, according to the Financial Times.
Penguin Random House did not reveal any titles, publishing dates or other details about the works also were not immediately available.
By contrast, publishers only plunked down $15 million for Bill Clinton’s 2004 autobiography “My Life” and $10 million for George W. Bush’s memoir “Decision Points,” according to past reports.
At least four publishing firms — including HarperCollins, Macmillan and Simon & Schuster — are vying for the rights, sources told the paper.
Penguin Random House has already published three other books by Barack Obama, including “Dreams from My Father,” which earned $6.8 million in royalties after it was released in 1995, The Hill reported.