Penguin pens record deal with Obamas
Barrack and Michelle Obama have signed record book deals with Penguin Random House.
The publishing giant will print separate memoirs for the couple and the Financial Times reported that bidding went in excess of 60 million, making the deal the biggest in presidential memoir history.
The sum flattens the 10 and 15 million that George Bush and Bill Clinton received for the rights to their respective memoirs.
The Obamas have said they will donate a large portion of the profits to The Obama Foundation, the couple’s charity.
“We are absolutely thrilled to continue our publishing partnership with president and Mrs Obama,” the publisher’s CEO Markus Dohle said in a statement.
“With their words and their leadership, they changed the world, and every day, with the books we publish at Penguin Random House, we strive to do the same.
“Now, we are very much looking forward to working together with president and Mrs Obama to make each of their books global publishing events of unprecedented scope and significance.”