Mar 01, 2017

By Andy Johnson

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Penguin – Random House has won the competition for Barack and Michelle Obamas’ stories, signing the former U.S. president and first lady to major book deals.
Financial terms were not disclosed, although the deals are likely to be in the tens of millions dollars.
The Obamas plan to donate a significant portion of the proceeds to charity, including their own Obama Foundation.
Industry observers say the former president’s book is a strong contender to attract the largest advance for any ex-president; out stripping the $15-million believed to have been for Bill Clinton’s memoir “My LIfe”.
Titles and release dates for the Obama books were not made available.
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