Beth Comstock heads back to GE while NBC Universal still struggles to get its digital footing

BY SDH Ask many inside NBC Universal to rate Beth Comstock, currently the President of integrated media and they will probably rate her between 1 and 5. Since taking on the roll as head of NBC Universal's digital media offerings Comstock has had some duds, with the iVillage acquisition at the top of the list. Since convincing NBC Universal brass to cut a check for $600 million to take over iVillage.com, NBC Universal still has nothing significant to show for it. Many are still waiting to see how it will serve as the foundation for NBC Universal's digital strategy. Comstock seems to have only one successful project under her belt and that’s the recently launched Hulu.com a joint venture with News Corp's Fox Interactive, but it is a little premature to refer to the project as a success. Now Comstock is being called back to parent company General Electric to take on the same roll she had before going to NBC Universal but with a bigger spin. At GE she will oversee marketing and digital media. Regardless of what Comstock's doubters may think, she is in GE CEO Jeffrey Immelt’s protective custody which means she can do no wrong. Is this Immelt’s way of allowing NBC Universal’s little big man Jeff Zucker to bring in a new chief of digital who actually carry’s the digital media DNA?

Former peacock in Chief Bob Wright hops into private-equity game

-SDH Bob Wright who some would say was forced into retirement in favor of younger blood at NBC-Universal is about to begin his second act in private equity. Wright will join private-equity veteran Thomas H. Lee to hunt for deals in the media sector. This could very well be Bob Wright's way of getting back into the media business. He is joining Lee Equity Partners as a senior adviser. The firm is said to be eyeing small media properties in broadcasting, but of course there is speculations that they could make a move on NBC Universal if and when GE does decide to look for buyers. If such speculations become reality, it could go down in history as one of the biggest comebacks because Lee Equity Partners would no doubt boot Jeff Zucker faster than he got to the top and re-install Wright at the helm. Oh man the possibilities but all the above is a bit of wishful thinking. NBC Universal if sold could fetch close to $40 billion. This sum may be a bit heavy for Lee Equity Partners.

Is Jeff Immelt a closeted media mogul?

-YOSH There is no secret that GE Chief Executive Jeff Immelt is a hands-on kinda guy when it comes to business. He is even more hands-on when it comes to his media division, NBC Universal. He talks up the business whenever he gets the chance and even hints at what’s to come for the media company. In a way he does what NBC Universal boss Jeff Zucker should be doing. We kinda get the impression that he is constantly behind Zucker breathing down his neck. Is this the behavior of a closeted media mogul? It would look good for Zucker if every time Immelt does an interview and questions regarding NBC Uni comes up he says "You will have to ask Jeff about that". But that’s not the case. The man speaks as if he is running NBC Universal, and for all we know he really is, via Jeff Zucker. We think Jeff Immelt is smitten with the media business and has a secret fantasy of someday running a media company. During the Jack Welch era at GE, Welch wasn't known to mingle in NBC workings, at least not that we know of. He left that up to then NBC ruler Bob Wright. Maybe Wright's retirement was hastened due to the fact that Immelt realized he couldn't control him. Who knows? Perhaps one day Jeff Immelt will come out of the closet.

Warner-Universal: Can you dig it?

Let’s say TimeWarner decides to sell off all of AOL, according to estimates a successful sale of the online giant, could fetch in the neighborhood of $18 billion. What would TimeWarner do with this chunk of cash? Well there have been suggestions that CEO Jeff Bewkes should kick the tires on NBC Universal if and when General Electric decides to sell it after the 2008 Olympics, possibly creating a new media giant called Warner-Universal. But how would a Warner-Universal look? Well for starters a merger would result in a major sell off of redundant units, not to mention a massive layoff. NBC Universal is home to MSNBC which competes with TimeWarner's CNN. Would the two be merged, or would MSNBC be put on the block in favor of CNN. How about the movie studios? Would a Warner-Universal hold on to two major movie studios by merging them to create Warner-Universal Studios, or would one be sold off? More importantly, how would senior management look? Clearly TimeWarner being the buyer would have Jeff Bewkes at the helm, but would NBC Universal’s little big man Jeff Zucker be out of a job, or would Bewkes name him his number two? We think Zucker would be toast. But that’s just us. Today's poll: WARNER-UNIVERSAL: CAN YOU DIG IT? YES MAYBE NO WAY NOT SURE

On Jeffrey Immelt's orders, Jeff Zucker will fuck up the Holidays for many

-YOSH There goes the Holiday's for some at NBC Universal. CEO Jeff Zucker, on orders from his rulers at General Electric will trim the fat where needed so that NBC Uni will look better on paper, or perhaps they need the cash to pump into Hulu.com. This is Zucker's second bloodbath since taking over as CEO. The people who remain should prepare for their work loads to double because it looks like Zucker won't be filling the spots in the future. Maybe there was another way around all this though. Like perhaps employees would have been cool with paying 100% for their health coverage or something? Sources inside or close to NBC yesterday claimed the cuts, which are expected to come down this week or next, will be weighted evenly between NBC News and MSNBC. CNBC staffers are being shielded from this round of cuts because Zucker wants the network to be at full strength now that the battle with Fox Business Network has begun. (FBN is owned by News Corp., which also owns The Post.) Guess those lucky bastards at CNBC should thank Rupert Murdoch for saving their jobs. PEACOCK PURGE [NYP]

Jeff Immelt urged to take action regarding potential threat from Fox Business Network

-By MARTY You know there must be a serious threat against CNBC by Fox Business News when an open letter that should have been addressed to Jeff Zucker goes over his head and is addressed to his boss at GE Jeff Immelt. In the open letter Immelt is reminded of the things he is that former GE boss Jack Welch wasn't and is reminded that if he doesn't act now it may haunt him. Though there are no available reports on how Rupert Murdoch's new channel is doing, people continue to refer to the ass whipping his Fox News has given CNN over the years predicting that it will happen again with Fox Business News kicking CNBC's ass. Should Jeff Immelt take this open letter seriously and order his media chief Jeff Zucker and his troops into battle? We kinda think so. Because as the saying goes, never bet against Rupert Murdoch. Rescue Memo to Jeff Immelt [Portfilio.com via Yahoo]

Jeff Zucker: GE should only sell us if we don't perform, and so far we're performing

NBC Universal boss Jeff Zucker is made it clear that NBC Universal is not for sale. Sure as if he would know whether or not the GE Board secretly has a price tag on the company. Talkers have been talking about GE possibly selling off the media unit after the Olympics but Zucker has been on his "We're not for sale" tour trying hard to put to rest the rumors. Speaking at an event in New York, Zucker said GE Chief Executive Jeff Immelt had been "very clear" about NBC Universal's role within the company. "He has said numerous times that NBCU is not for sale," Zucker said. "It is not for sale after the Olympics." NBC Universal's Zucker dismisses sale rumors [Reuters]

GE will continue to pimp NBC until a time of their choosing

It turns out NBC Universal boss Jeff Zucker has a bigger Peacock than expected and his pimps at GE couldn't be more pleased. NBC Universal's third quarter results are healthy, kinda putting to rest talk of GE selling off the media unit, for now. GE will continue to push hard for higher and higher quarterly results perhaps to sell the company off at a higher price and cash out big time. Chatter has increased about GE waiting until after the 2008 Olympics to decide whether or not they will unload Zucker and company. Media giant TimeWarner has been mentioned a few times as a possible buyer if GE does decide to get out of the entertainment business. We won't even get into that right now but we hope TimeWarner will continue to focus on increasing their share price instead of trying to digest another major merger/acquisition. For now though, GE is pleased with NBCU’s results, even if ratings are still in the toilet. Hey how long has that kid who Zucker hired to beef up ratings been on the job? Is it too soon to get on him? NBC SCORES RESULTS THAT MAKE GE POSSESSIVE [NYP]

Kevin Reilly almost out the door at NBC: Unidentified NBC execs

We never saw this one coming based on the fact that his contract was recently renewed to continue as President of NBC Entertainment. Then again shame on us for thinking a contract means shit in the media/entertainment business. According to some unloyal NBC execs, NBC Universal is reportedly in negotiations to kick Kevin Reilly to the curb and replace him with producer Ben Silverman, who will probably meet the same fate some years down the line. Is this a "We like you Kevin but we Like Ben better" situation? Is Kevin Reilly no longer hitting Jeff Zucker's spot? At the end of the day, all this is to please the sharks at GE and why shouldn't it be? If they're not pleased then that’s Jeff Zucker's ass. Hey Kev call up Les and see what he has open over at CBS. Several executives who have been informed of the discussions said that NBC Universal had started some complex negotiations with Mr. Silverman to take a leadership role in its entertainment operations, including devising new approaches to unite its broadcast, cable and Internet programming divisions. NBC Said to Be in Talks to Remove Program Chief [NYT]

Call her the mayor of iVillage

-LENN HINDSMANN NBC Universal’s digital queen Beth Comstock may have the support of her bosses at GE and NBC but, some colleagues think she is in over her head. In usual GE/NBC practice, Comstock was handed a new title and duties even after an alleged less than stellar performance overseeing the media giant’s digital offerings under former CEO Bob Wright. According to Nielsen reports, iVillage Live, the spin off show of the popular website has fallen flat on its ass. The show is even said to be the subject of laughter among some insiders. Did NBC put the right person in charge of their digital strategy? Comstock comes from a marketing background with no previous digital media experience and is even in charge of NBC’s new $250 million investment fund. "People are beginning to question why she has been given so much responsibility relative to her performance," said one source close to the company. "The show is considered a laughingstock at the station level," said another source. "It's synergy at its worst." "iVillage is a steady build," said an NBC spokesman. "It's generating more revenue now than ever before." COMSTOCK'S LOAD [NYP]

Is Jeff Immelt and his GE board losing patience with NBC Uni already?

-LENNOX Is newly installed NBC Universal CEO Jeff Zucker about to be pressured by the GE board? Is the GE board expecting overnight miracles? According to the sporadic Media Biz column on CNNmoney.com, when GE reports its first-quarter earnings on April 13, all that spur of the moment stuff Jeff Immelt said about NBC back in January, may turn out to be just that, talk. Immelt promised investors in January that profits at NBC Universal in the first quarter would be in a range of flat to up 5 percent from a year ago and that revenues would be unchanged compared to last year after excluding the impact of the Olympics in the first quarter of 2006. "You look at GE and there are a lot of good things that are going on with the company, but NBC is one of the weakest divisions. We would love to see GE put NBC up for sale," said Mike Gandrud, a senior analyst with Johnson Asset Management. Immelt refuted speculation in February that GE was looking to sell NBC Universal. So is that funny smell lingering in the air, private investors waiting on the side lines for Immelt to hang a for sale sign around the Peacock's neck?

Jeff Immelt will do anything to make GE cool

Even owning a hot media company like NBC Universal, with it's TV networks, Keith Olbermann, Universal Pictures and theme parks isn't cool enough for GE boss Jeff Immelt. Immelt wants to attract what he calls a new generation of youthful consumers, and he plans to do that by slapping the GE logo on digital cameras and printers. The consumer electronics sector isn't something GE is known for or should enter, for one reason and one reason only. GE is too old and has been around for decades way before the youthful consumers they are now trying to grab. Some of them probably don't even know what GE is, and if they do its because they saw it on their mom's washing machine and/or refrigerator. Why would you buy a camera from GE over a camera from a Sony, or a Cannon? Guess this is part of Jeff's plan to find new money from anywhere he can. However we think this one may be too much of a close gamble. Is GE about to walk on thin ice? [Business Wire Daily]