NBCUniversal Sets Shake-Up in Top Executive Ranks -- WSJ
December 17 2019 - 3:02AM
Dow Jones News
By Colin Kellaher
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (December 17, 2019).
Comcast Corp. said Steve Burke, chief executive of NBCUniversal,
plans to retire next August following the Summer Olympics in
Tokyo.
Jeff Shell, who currently oversees the company's film and
network television businesses, will become CEO of NBCUniversal on
Jan. 1, while Mr. Burke assumes the role of chairman, Comcast said
Monday.
Upon Mr. Burke's retirement, Mr. Shell will report directly to
Brian Roberts, chairman and CEO of Comcast, the company said.
The Wall Street Journal on Friday reported that Mr. Burke, who
also is a senior vice president of Comcast, was planning to step
down when his current contract expires after a two-decade run at
the cable and entertainment giant.
The 61-year-old Mr. Burke has served as NBCUniversal chief since
Comcast acquired control of the company in 2011. The role oversees
a sprawling operation that includes the NBC broadcast network, the
Universal studio and theme parks, cable channels such as MSNBC, USA
Network and Bravo and Spanish-language network Telemundo.
Mr. Burke's main objectives during his remaining time at
NBCUniversal are overseeing next April's launch of Peacock, the
company's direct-to-consumer streaming service, and coverage of the
2020 Summer Olympics in Tokyo, people familiar with the matter
said.
A 14-year Comcast veteran, Mr. Shell has held a variety of
positions including overseeing international operations and cable
networks such as the company's regional sports channels. In his
current post, he essentially is in charge of all entertainment
content in the television and movie operations.
Mr. Shell will likely face myriad challenges as CEO. Like all
broadcast networks, NBC has endured sharp rating declines over the
past decade as viewers cancel pay-TV service and flock to streaming
platforms. On the positive side, NBC is threatening this year to
surpass CBS as the most-watched network. NBCUniversal's cable
networks face similar issues. MSNBC has been a bright spot. Like
other cable news channels, its ratings got a lift in recent years
from interest in the coverage of Donald Trump's candidacy and
administration.
Joe Flint contributed to this article.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 17, 2019 02:47 ET (07:47 GMT)
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