Ted Kennedy's Book Deal: Tell-All or Tedious Tome?

Nov. 16, 2007 — -- Are people more interested in reading about Ted Kennedy's dog or his life in America's most powerful family?

That's the question on the minds of publishers who reportedly paid $2 million just to get in the running to bid for the rights to the longtime senator's autobiography, which might end up going for $4 million to $5 million, say publishing sources.

The triumphs and tragedies of Kennedy's life, from growing up as American royalty and his political success to the heartbreak of his brothers' assassinations and the scandal of Chappaquiddick, certainly make for high drama.

But he might also just pen a dry recitation of his political achievements or a summary of his views on education and labor policy, which would appeal only to political wonks. Last year, Kennedy wrote "My Senator and Me: A Dog's-Eye View of Washington, D.C," with Splash, his Portuguese Water Dog, and the book did pretty well.

It all comes down to whether publishers can prod him to get more personal. It's a classic carrot-and-stick routine played out between the big book publishers and famous personalities -- tell all and get a bigger advance.

In recent years, publishers have shelled out major money to politicians and public officials in the hopes that they can recoup their costs in sales.

The results are mixed, say publishing industry analysts.

Among the successes: Bill Clinton was paid $10 million to write "My Life," his 2004 memoir with a $35 sticker price, which sold more than a million copies in the first week. Barack Obama got a $425,000 advance for "The Audacity of Hope," which has sold more than a million copies in paperback. And Rudy Giuliani was paid $2.7 million for "Leadership," with the sticker price of $25.95, which sold at least 665,000 copies.

Yet Martha Stewart received $2 million for "The Martha Rules," her 1995 business advice book, which reportedly hasn't sold well. Jimmy Carter's 1982 memoir, "Keeping Faith," was a poor performer. And the jury is still out on Alan Greenspan's "The Age of Turbulence," for which he was paid $8.5 million but has only sold around 300,000 copies so far.