Barack and Michelle Obama sign book deals
Barack and Michelle Obama have signed new book deals.
The former president and first lady have signed with Penguin Random House, the publisher announced.
Financial terms were not disclosed, although the deal is likely to be in the tens of millions of dollars.
The dual arrangement is for books among the most anticipated in memory from a former president and first lady. Mr Obama is widely regarded as the one of the best prose stylists among recent presidents, and Ms Obama has given few details about her time as first lady.
Both are widely popular with the public in the US and abroad.
Penguin Random House chief executive Markus Dohle said: "We are absolutely thrilled to continue our publishing partnership with President and Mrs Obama.
"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.
"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."
The Obamas were represented in negotiations by Robert Barnett and Deneen Howell of Williams & Connolly. Mr Barnett has worked on deals with Mr Obama's two immediate predecessors, Bill Clinton and George W Bush, and with Michelle Obama's predecessors Hillary Rodham Clinton and Laura Bush.
The Obamas plans to donate a "significant portion" of their proceeds to charity, including to the Obama Foundation.
Mr Obama's book is a strong contender to attract the largest advance for any ex-president. The previous record is believed to be 15 million dollars for Bill Clinton's My Life.
Mr Obama's million-selling Dreams From My Father and The Audacity Of Hope are considered essential to his rise to the White House. Ms Obama's only book so far is about food and gardening, American Grown, released in 2012.
The books will reflect on the Obamas' White House years, although Penguin Random House declined to give further details.
A source said Mr Obama's book will be a straightforward memoir about his presidency, while Ms Obama plans to write an inspirational work for young people that will draw upon her life story.