Barack and Michelle have officially signed a book deal with Penguin Random House. The deal includes worldwide publishing rights to books from both the former president and First Lady.
“The news today follows a bidding war between multiple publishers that the Times speculates “stretched into the tens of millions.” Earlier Tuesday, a separate report from the Financial Times claimed that bidding had surpassed the $60 million mark, a figure well beyond that of any previous presidential memoir.
As part of the deal, Penguin Random House has also agreed to donate 1 million copies of the book to First Book, a nonprofit organization dedicated to supplying books to disadvantaged children, and Open eBooks, a literacy-focused nonprofit that partnered with the Obama White House on a 2016 digital education initiative.” _
Source: Handout / Getty
