Comcast Still Upbeat About NBC Despite Economic Concerns

NBC’s broadcast network is reviving faster than Comcast expected and represents “our biggest upside in the near term,” NBCUniversal CEO Steve Burke told an investment conference this morning. Since Comcast bought a 51% stake in NBCU in January, “most of the things that have changed have changed for the better.” He says that the national ad business remains “very strong” — with spots for the 2012 Super Bowl nearly sold out. Although there are growing signs that the economy may weaken or stagnate, Burke told the Bank of America Merrill Lynch Media, Communications and Entertainment Conference that NBC can improve once it gets the respect he says the network deserves from advertisers. He says unit prices for NBC’s ads “are discounted heavily, up to 25%” vs. ABC, CBS, and Fox. If NBC develops more must-see shows then the gap should narrow and “you can imagine hundreds of millions (of dollars) in EBITDA coming in.” Burke adds that NBC-owned stations also are “significantly less profitable than we need to be” and that “there’s no reason” that Spanish-language network Telemundo can’t reach a bigger audience. Burke also is upbeat about revenues from the networks’ and stations retransmission consent deals with cable and satellite distributors — including Comcast. The exec says that some of that cash will go back into programming. The network’s previous owner, General Electric, “had not been as enthusiastic about the business and had not been as willing to invest as we are.” Read More »

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MERGER GIVEWAY: NBCU Employees Get Comcast Shares, Universal Studios Passes

Nellie Andreeva

Going to work this morning, NBC Universal employees found all the company’s old signs replaced overnight with new ones. They feature the company’s new logo and new name, which is the same as the old one sans a space between … Read More »

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UPDATE: Comcast-NBC Brass Talk Synergy, Layoffs & The Future At Town Hall Meetings

By | Thursday January 27, 2011 @ 9:40am PST
Nellie Andreeva

UPDATED: Comcast today held town hall meetings for NBC Universal employees in NBCU’s main outposts, New York and Los Angeles, and Comcast’s hometown Philadelphia, with remotes from Miami and London. Comcast officially unveiled the new logo for NBCUniversal (all one … Read More »

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