Jeff Schell, CEO of NBCUniversal, resigned after the investigation

57 year old Mr. Shell’s shock departure marks an about-face for him after a decades-long career. A Comcast insider, Mr. Schell rose steadily through the ranks of the cable company-turned-media-behemoth, becoming chief executive of NBCUniversal in 2020 when his predecessor, Steve Burke, stepped down.

Before becoming a top executive, Mr. Shell has held several senior positions in the media division. In 2013, he was tapped to lead Universal Film Studios, which Comcast recently acquired in a megadeal with GE, succeeding longtime Universal executive Ron Mayer, who left the company in 2020. Extort money related to past extramarital affair.

Mr. Kavanagh, at 57, Mr. Roberts has returned to a close confidant whose stock in Comcast has risen steadily since joining the company in 2015. Last year, Mr. Kavanagh was named chairman of Comcast — the third person to hold that position. In the history of the company – and Mr. He is widely seen internally as a potential internal candidate to succeed Roberts as chief executive.

Before his sudden departure on Sunday, Mr. Shell’s status was at times uncertain. Last year, Comcast discussed merging NBCUniversal with Electronic Arts, a deal that could lead to a new role for Mr. Schell at Comcast, according to two people familiar with the talks. Ultimately, that deal never materialized, and Mr. Shell continued as head of the media division.

Peacock, NBCUniversal’s streaming service, has gained some momentum in recent months, but remains small compared to its peers. Peacock has more than 20 million paid subscribers, more than Netflix (232 million) or Warner Bros. Significantly less than Discovery’s HBO Max and Discovery+ (96 million). Some major media companies’ streaming businesses are still losing money, and Peacock is no exception. It lost about $2.5 billion last year and is projected to lose another $3 billion this year.

See also  A provision of the Defense Bill is subject to an abortion referendum

Leave a Reply

Your email address will not be published. Required fields are marked *