Barack, Michelle Obama sign bumper book deal
WEDNESDAY
MARCH 1 2017
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 | MANDEL NGAN | AFP
In Summary
·
Until now, the record for
a US presidential memoir was $15 million paid for Bill Clinton's 'My Life'.
·
Mr Obama is already the
author of two memoirs and a children's book.
·
Michelle Obama's memoir
is likely to be just as eagerly anticipated.
By
AFP
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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.
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