UPDATE: Obamas in negotiations to develop Netflix series: report
Former President Barack Obama and his wife, Michelle, are in negotiations with Netflix Inc. (NFLX) to produce an exclusive series of shows, the New York Times reported (https://www.nytimes.com/2018/03/08/us/politics/obama-netflix-shows.html) late Thursday. While little is known about the series, or its number of episodes, the Times said the Obamas were interested in telling inspirational stories. The series is not intended as a direct response to the Trump administration's policies, sources told the Times. "President and Mrs. Obama have always believed in the power of storytelling to inspire," Obama adviser Eric Schultz told the Times. "As they consider their future personal plans, they continue to explore new ways to help others tell and share their stories." It is unclear how much the Obamas might be paid, but Netflix plans to spend close to $8 billion on original content in 2018, and has recently shelled out tens of millions of dollars (http://www.marketwatch.com/story/what-netflixs-300-million-ryan-murphy-deal-says-about-the-future-of-tv-2018-02-15) to Hollywood heavyweights such as Ryan Murphy and Shonda Rimes to create new series.
-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com
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03-09-18 0347ETCopyright (c) 2018 Dow Jones & Company, Inc.