New York based publisher Penguin Random House has won the book industry’s most coveted contract: a deal to produce the memoirs of former president Barack Obama and first lady Michelle Obama.

“The company has acquired world publication rights for two books, to be written by President and Mrs Obama respectively,” the publisher said in a statement.

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.

The deal was negotiated by Washington super-lawyer Robert Barnett who represented former presidents George W Bush and Bill Clinton.

tagged in Book Deal, Obama