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Obamas sign bumper book deals with Penguin Random House

Former US president Barack Obama and his wife Michelle Obama have signed book deals with Penguin Random House.

According to the Guardian, the financial terms were not disclosed for the books, for which several publishers had competed, although it was reported that bidding reached more than USD 60 million.

Earlier, fellow Democrat and former president Bill Clinton earned USD 15 million for rights to his 2004 memoir “My Life” after he left office, while Obama’s immediate predecessor Republican George W. Bush reaped some $10m from his book “Decision Points”.

The former president and first lady have previously published through Crown, a Penguin Random House imprint.

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