Barack and Michelle Obama reported to be in talks for Netflix show

Barack Obama and Netflix reportedly are negotiating a deal for the former president and his wife, Michelle, to produce shows exclusively for the streaming service.

New York Times reports plan for show s not yet finalized but Netflix stock soars

Former President Barack Obama, right, and former first lady Michelle Obama arrive for the first session of the Obama Foundation Summit in Chicago on Oct. 13, 2017. Barack Obama and Netflix reportedly are negotiating a deal for the former president and his wife to produce shows exclusively for the streaming service. (Charles Rex Arbogast/Associated Press)

Barack Obama and Netflix reportedly are negotiating a deal for the former president and his wife, Michelle, to produce shows exclusively for the streaming service.

The proposed deal was reported Friday by the New York Times, which cited people familiar with the discussions who were not identified.

The report sent shares to an all-time high of $326.74 US earlier. The Los Gatos, Calif., company's stock reached $326.07 in afternoon trading, marking a gain of nearly three per cent.

Netflix did not respond for a request for comment. Obama spokesperson Katie Hill declined comment on the report.

Obama senior adviser Eric Schultz, in a statement provided to The Associated Press, said the Obamas believe in the power of storytelling to inspire.

Schultz said the couple continues to explore new ways to help others share their stories.

The show deal is not yet finalized, nor is there an established format. 

The New York Times reported that Obama doesn't intend to use his Netflix shows to respond directly to President Donald Trump or conservative critics.