07/05/2009 05:12 am ET Updated May 25, 2011

Captain Richard Phillips Gets $500K Memoir Deal: Report

Merchant ship hero Capt. Richard Phillips may never have to brave pirate-ridden seas again, unless he really wants to.

According to publishing sources, Hyperion Books has won the auction for a memoir by Mr. Phillips, who saved his crew from Somali pirates by volunteering to be taken hostage.

Read more on Crain's New York Business