Former US President Barack Obama and former first lady Michelle Obama intend to write separate books but want to sell the publishing rights in a package deal. FILE PHOTO
NEW YORK
Barack
and Michelle Obama have signed a deal to publish their memoirs with New
York-based Penguin Random House, in a coveted contract reportedly worth
tens of millions of dollars.
America's first African American president is already the author of two memoirs and a children's book.
He
has frequently declared himself to have a "writer's sensibility" and
has said he does not want to write a conventional blow-by-blow account
of his time in the White House.
Michelle Obama's memoir is likely to be just as eagerly anticipated.
A
descendant of slaves, she became the first African American first lady
and garnered high approval ratings - to the point where she was arguably
one of the country's most respected and popular women.
Penguin
Random House said in a statement it has "acquired world publication
rights for two books, to be written by president and Mrs Obama
respectively."
RECORD SUM
The
terms of the deal were not disclosed, but bidding for the high-profile
double book deal topped $60 million, a record sum for US presidential
memoirs, according to the Financial Times.
Until
now, the record for a US presidential memoir was $15 million paid for
Bill Clinton's "My Life," released in 2004. George W. Bush received $10
million for "Decision Points" in 2010.
Hillary
Clinton reportedly received a $14 million advance for "Hard Choices,"
her account of her time as secretary of state under Obama.
The Obama deal was negotiated by Washington super-lawyer Robert Barnett, who represented both the Clintons and Bush.
As
part of the agreement, the company will donate one million books in the
Obama family's name to First Book, a charity, Penguin said.
"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," said Penguin Random House CEO
Markus Dohle.
The Obamas took a long
vacation after Donald Trump was sworn in as president on January 20, and
the former president has stuck by a pledge to keep a low public profile
unless events threatening what he called America's "core values"
warranted that he speak out.
He did
just that in January, just days after Trump enacted his ban on
travellers from seven mostly Muslim countries, and on all refugees.
Obama expressed support for protests that sprang up nationwide against
the now-suspended Trump travel ban.
Whereas
US presidents tend to leave town after leaving the White House, the
Obamas are settling into a rented mansion in Washington's posh Kalorama
district until their younger daughter Sasha finishes high school. Their
eldest daughter Malia will be attending Harvard in the fall.
Another
new neighbour in Kalorama is Trump's daughter Ivanka, who has rented a
house along with her husband Jared Kushner and their three children,
near the Obamas.