Publisher Penguin Random House announced Tuesday it will publish books by former President Barack Obama and former first lady Michelle Obama.
The company has acquired worldwide publishing rights for two books, one from each of the Obamas. Terms of the agreement were not released, but the Financial Times reported on Tuesday that the auction for the rights to the books reached more than $60 million, citing people with knowledge of the sales process.
“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,” Penguin Random House CEO Markus Dohle said in a statement. “Now, 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."
Penguin Random House also announced they will donate one million books in the Obama family’s name to two nonprofits encouraging reading.Read More...
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