Anonymous ID: 512236 Dec. 27, 2019, 2:12 p.m. No.7634493   🗄️.is 🔗kun

"When word broke early last week that former president and first lady Barack and Michelle Obama had landed a joint deal at Penguin Random House worth a reported $65 million, many in the industry were stunned. ''The advance is, if not the largest on record for two standalone works, certainly the largest in recent memory.''

 

As is its company policy, PRH has not commented on the money. Some insiders, all of whom spoke to PW on the condition of anonymity, have expressed skepticism about the accuracy of the figure (which the Financial Times first reported). A week before the deal was announced, one high-ranking publisher at another house who had been involved in negotiations said that he thought ''the two books would fetch a total of $30 million.'' But many in the business, including scouts monitoring the auction, said they think the $65 million figure is accurate.