The former president and first lady wrote the books separately, but are auctioning off the publishing rights simultaneously, The Financial Times reports. If the books secure the projected $60 million price-tag, it would greatly surpass original expectations. Researchers originally estimated the two memoirs would net the couple $40 million, according to business analytics data from American University.
Publishing houses currently vying for the rights include: Penguin Random House, HarperCollins, and Simon & Schuster, to name a few. Penguin Random House is reportedly the current favorite to secure exclusive rights. A final decision is expected at any moment, FT reports.
Former President Bill Clinton’s memoir was published by Knopf Publishing Group. The former president sold the rights to the company for $10 million, an amount that set records for a non-fiction deal at that time.“Dreams from My Father,” the memoir Obama wrote in 1995, which was re-released during his 2004 bid for the U.S. Senate. “Before this book started selling we were living in a condo and we had two cars, but one of them was beat up,” Obama told reporters in 2008.
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