The bidding war for former President Obama and Mrs. Obama’s new book deal has come to an end with Penguin Random House landing it with a $60 million book deal.
“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,” CEO Markus Dohle said in a statement.
He continued with saying, “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.”
The Obamas are each writing their own books, separate from one another, but they are selling them together according to the Financial Times.
Their books titles, publishing dates and any other details on their books have not been revealed yet too.
Penguin Random House are responsible for publishing the two bestseller that Barack Obama wrote while still a Democratic senator from Illinois.
His first book “Dreams from My Father” was written in 1995 with $6.8 million in royalties and his second book “The Audacity of Hope” was written in 2006 and it earned $8.8 million in royalties.
In 2004, they re-released his 1995 “Dreams from My Father” book in paperback.
The past reports tell us that Bill Clinton’s 2004 book deal was only $15 million for his autobiography “My Life” and George W. Bush’s 2010 memoir “Decision Points“.
Both Penguin Random House and Mr. and Mrs. Obama declined to comment on the report.
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