Financial terms were not disclosed, although news reports indicated bidding for the former first couple’s book could top as much as $60 million.
“We are absolutely thrilled to continue our publishing partnership with President and Mrs. Obama,” Penguin Random House CEO Markus Dohle said in a statement.
“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,” Dohle said.
“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,” he said.
Both Obamas have published books through Crown, a Penguin Random House imprint.
Barack Obama has written the million-selling “Dreams from My Father” in 1995 and “The Audacity of Hope” in 2006. He also wrote “Of Thee I Sing: A Letter to My Daughters” in 2010.
Michelle Obama has written only one book: “American Grown,” on gardening, which was released in 2012.
The publisher did not immediately say which imprint the books would be released through. Titles, publishing dates and other details about the books also were not immediately available.
The Financial Times reported Tuesday the auction for the book featured Penguin Random House and such other publishing giants as HarperCollins, Simon & Schuster, and Macmillan.
Penguin Random House, according to the report, had been the higher bidder in the contest.
Former President George W. Bush made about $10 million on his memoir, according to the Times, while former President Bill Clinton received $15 million for his memoirs.
Article Appeared @http://www.newsmax.com/Newsfront/book-deal-Penguin-Random-House-Michelle-Obama/2017/02/28/id/776148/