Publishing Rights For Obama Book Deals Surpass $65 Million At Auction
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WASHINGTON (CBSMiami) -- Penguin Random House has reached a record-breaking $65 million deal for the rights to publish books by Barack and Michelle Obama.
The Financial Times reported the publisher's announcement Tuesday.
The auction for the rights to publish two memoirs from Barack and Michelle Obama has set off a bidding war https://t.co/qlXSUSWeFb
— Financial Times (@FT) February 28, 2017
Although they did not disclose the fee they'll pay the former president and first lady, the deals are likely in the tens of millions of dollars, said CBS News.
The report added that they're selling joint rights to the separate books. The Obamas' previous books were published through Crown, a Penguin Random House imprint.
Barack's first two books, "Dreams from My Father" and "The Audacity of Hope," both sold in the millions. He also wrote "Of Thee I Sing: A Letter to My Daughters," a children's book highlighting 13 American achievers.
Michelle published "American Grown" in 2012, a food and gardening book. So far, she's released few details about her memoirs during her time spent as first lady.
Titles and release dates were not made available.