Random House To Pay Barack And Michelle Obama Record $65M For Separate Presidential Memoirs

Random House To Pay Barack And Michelle Obama Record $65M For Separate Presidential Memoirs

Penguin Random House will pay more than $65m for the global rights to two books to be written separately by Barack Obama and his wife Michelle, after a blockbuster auction that set a new record for US presidential memoirs.

The company declined to comment on the fee it had agreed with the Obamas. But people briefed on the auction, which attracted interest from HarperCollins, which is owned by Rupert Murdoch’s News Corp, and CBS’s Simon & Schuster, confirmed it would exceed $65m.

Markus Dohle, chief executive of Penguin Random House, said: “We are absolutely thrilled to continue our publishing partnership with the President and Mrs Obama. With their words and their leadership, they changed the world.” Penguin Random House published Mr Obama’s previous three books. While the Obamas are writing separate books, they sold the rights jointly.