Branson Sells Virgin Books - And Then Announces Book Deal March 6

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Sir Richard Branson has announced that he is selling 90 per cent of his Virgin Books unit to publisher Random House.

The Virgin boss has also revealed that he is planning to write a series of books for the company he has agreed to sell for an estimated £3.5 million.

Sir Richard, 56, will deliver five books for Virgin Books over the next five years and has received an advance of more than £1 million as part of the deal, which will also see him paid royalties.

The dyslexic entrepreneur has previously written an autobiography, Losing My Virginity, in 1999 and a business guide, entitled Screw It, Let’s Do It, in 2006, preferring to dictate his writings.

“Virgin books began its life as an entertainment and music related book publisher and has now begun to spread its wings into different genres,” Sir Richard said.

“This deal will now allow the brand to be developed on a global basis with access to the worldwide infrastructure of arguably the best publisher in the world.”

The Virgin mogul, who built his empire up from scratch after leaving school, is reported to have started work on a book about business and the environment.

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