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

Published: Monday, March 03, 2008

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?

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Is Jeff Immelt a closeted media mogul?

Published: Thursday, December 27, 2007

-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.

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

Published: Thursday, December 06, 2007

-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.


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Will NBC Universal let DreamWorks get away from them again over money? GE's pockets are too deep to allow this to happen

Published: Saturday, November 17, 2007

-SDH

Jeff Zucker, if he is smart, has another shot at adding some major wattage at Universal Studios. DreamWorks which has been unhappy with its deal at the Viacom owned Paramount mainly due to oldman Sumner's vicious mouth, wants out of that marriage and will only do a deal with News Corp's 20th Century Fox or NBC Universal's Universal Studios ,but there is a catch. The DreamWorks team is seeking $600 million to $700 million a year which insiders say may hold up any deal from happening. Jeff Zucker needs to let his boss, GE CEO Jeff Immelt know that he cannot let this deal get away from them a second time. Because Rupert Murdoch is known for swooping in and offering more than what a seller is asking leading to a win, just ask Tom Freston. Jeff Zucker needs to Tell Immelt to back off and cut the check so he can secure DreamWorks and its legendary founders.

“These DreamWorks guys are the A-Rods of the movie business,” said Harold L. Vogel, an independent media analyst. “They have megawatt personalities and great track records, but almost nobody can afford to pay them.”

Discontented, DreamWorks Is in Talks to Join NBC [NYT]


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

Published: Tuesday, November 13, 2007

-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]

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The rise of NBC's pot smoking wonder kid, Ben Silverman

Published: Saturday, September 15, 2007

Ben Silverman is probably Hollywood's most powerful young exec as Co-Chair of NBC Entertainment. He slid into the job with much press and no doubt more vagina than any man could handle. He hints that he still smokes pot with his buddies and has already gotten down to the business of making NBC Universal boss Jeff Zucker and his boss GE CEO Jeff Immelt happy by green lighting new programs that may or may not dig NBC out of the dark hole it has been in for some time now. W Magazine's Gabriel Snyder observed Silverman and wrote all about it in their latest issue and by the sound of things, Ben Silverman just may be able to balance his partying ways and his new high power gig.

When a network head sits for his corporate portrait, it’s normally a tedious exercise: a balding guy in a drab suit and serious tie posing awkwardly for 10 minutes before he’s got to be somewhere—anywhere—else. But Ben Silverman is not your typical television executive. Five days into his new job as cochair of NBC Entertainment, the 37-year-old agent-turned-producer-turned-broadcast boss is not ashamed to be standing in his drawers (washboard abs proudly displayed) on the set of his NBC photo shoot. Following the photographer’s directives—“Lean forward! That’s cool!”—Silverman, after changing into a charcoal suit sans tie, ends up contorted into a coy little ball, his chin resting on his knees. Suddenly a cell phone begins to bleat, its ring tone a refrain from one-hit rapper Mims: “This is why I’m hot. This is why I’m hot.” The crew members eye each other nervously—Who forgot to silence his phone?—until Silverman languidly slips out of his kitten pose and answers his mobile.

CONTINUE...


Roll your eyes if you must, but this is what Holly-wood success looks like today. Ratings are what players like Silverman get paid for—not gravitas or modesty. Even so, when NBC tapped Silverman to be its cochairman (he shares the title with Marc Graboff, a buttoned-down veteran of the network’s business operations), many in the TV business were surprised to see an open-collared, Jaguar XKR–driving, party-hopping producer ascend to one of the industry’s most powerful posts. Silverman, however, is quite confident that he’s up to the task. “I think I am the audience, you know what I mean? I viscerally respond. I am conceptual and a dealmaker,” he says, sitting in his new office at NBC. (The place is undecorated but overflowing with congratulatory gifts that include a T-shirt declaring I’M A GENIUS!) “Those are things that usually don’t all come in the same package. I am the perfect storm for making a television executive.”

Some would argue that it will take a perfect storm to land NBC back on top. The network, after all, is in a serious funk, having finished last in prime-time ratings for the third year in a row. But if nothing else, the appointment has people talking about the peacock again—well, at least gossiping. During the three-week interim between the announcement of Silverman’s hiring and his first day on the job, a story began circulating that the delay was due to GE’s corporate drug-testing policy. The party boy, it was said, needed time to get the marijuana out of his system.

Silverman denies the rumor, but only to a point. “No, no, no. I did not quit smoking pot to take this job,” he says. “I’m still single, and I go out with my friends, but it was a nonissue for me. I think it blew out of proportion because I have nice Lucien [Pellat-Finet] sweaters with pot-leaf embroidery and I have some hemp sneakers. The day my deal was done, I said, ‘I want to get this freakin’ piss test out of the way.’ All these people are, like, accusing me of s---.”

Silverman grew up in Manhattan with his mom, Mary, a television executive with the BBC, and his dad, Stanley, a composer. He set his sights on the industry in junior high after reading a profile of Brandon Tartikoff, NBC’s legendary head programmer in the 1980s, in New York magazine. While majoring in history at Tufts, Silverman spent three summers interning for Warner Bros. and, upon graduation, photocopied his mom’s Rolodex and headed for Los Angeles. He crashed at a friend’s place while looking for work and, because the AC was busted in his car, took to driving to job interviews in his underwear and getting dressed in parking lots.

Barbara Corday, a former CBS executive who was starting her own TV production company, eventually hired him to be her assistant. “He was extremely young and enthusiastic and very charming,” she says. “All the things you read about him now, he was then, only more like a puppy. And who can resist a puppy?”
His very first day on the job she decided Silverman was “too good” to be her assistant. So she gave him the title of manager of development. Later that day, she decided director of development had a better ring. “I was 22,” says Silverman, giving one of his signature smiles, with his eyes open wide and his bushy eyebrows arched high, “and I was basically promoted three times over the course of a day.”

When Corday was hired as president of New World Television in 1993, she took her protégé with her, and when she was pushed out a year later to make way for the aforementioned Tartikoff, Silverman stayed on, becoming what he describes as his onetime idol’s “go-to guy.” In 1995 he jumped to the William Morris Agency, setting up shop in the London office and making his first big splash by putting together deals to adapt European shows like Who Wants to Be a Millionaire, Survivor and The Weakest Link for the American market. “I basically established a monopoly,” he says. “If it had an accent, I was involved in selling it.”

Having built a reputation as one of reality TV’s driving forces, he set up his own production company, Reveille, in 2002, which scored hits like The Biggest Loser. He also used his importing skills to translate The Office (originally a UK smash) and Ugly Betty (based on a Colombian soap opera) for Stateside audiences. Altogether, Silverman-produced shows (the latter two and The Tudors) received 24 Emmy nominations this year.

Word of Silverman’s move to NBC first hit Hollywood on the Friday before Memorial Day in a manner that is emblematic of the new media forces that have the networks scrambling. Just before 10 a.m., an e-mail from someone calling himself “theanontipster” arrived on the BlackBerries of reporters, bloggers and industry insiders. It read simply, “Ben Silverman has been offered the job replacing Kevin Reilly.” It was the first that Reilly, who was on the distribution list, had heard of his ouster.

The news flash turned out to be a tad premature. NBC Universal chief executive Jeff Zucker and Silverman had been in talks for a week and a half but had yet to hammer out an agreement. Silverman admits the mysterious e-mail “accelerated our negotiations,” but he says he had nothing to do with the leak. “Oh, God no,” he says. “It ruined my weekend.” He was spending the holiday at the Montage, a resort in Laguna Beach that was crowded with Hollywood types. “People were all over me, shooting me e-mails, circling me. I literally had to go in my room and pace on the phone the entire time.”

The e-mail leak, Silverman gripes, foiled his publicity plan. “I wanted it to be the cover of The New York Times and The Wall Street Journal,” he says with characteristic immodesty. And, he adds, he would have liked to be the one to break the news to Reilly. “I love Kevin and wanted to, at the right moment, tell him about it firsthand.”

Despite such statements of goodwill—and despite the fact that Reilly soon landed at Fox to take over its top-rated prime-time schedule—the whole affair has left a bad taste in the mouths of Reilly loyalists. One of the most outspoken has been ABC entertainment head Steve McPherson, a college buddy of Reilly’s, who blasted Silverman at an ABC press conference in July for pretending he had nothing to do with Reilly’s dismissal. “Was he living in a cave?” he said. “When someone stabs your best friend in the back, you don’t buy it.”

Silverman, of course, doesn’t need the admiration of the competition to succeed in his new role. It might help, however, if he and his boss agreed on a definition of success. Says Zucker, “The goal for Ben is to move NBC Entertainment forward in terms of its viewership and in terms of the number of successful programs he can bring to air.” Silverman, however, puts his own spin on it—with less of an emphasis on ratings: “What we are in is the business of television, not the rankings of television. It’s going to be hard for broadcast television to sustain its ratings when there are 500 networks and a million competing entertainment options.”

Either way, Silverman has been busy during his first few months looking for ways to kick-start the turnaround, whether by announcing that Jerry Seinfeld would return to prime time as a guest star on 30 Rock or adding former Grey’s Anatomy star Isaiah Washington to the cast of Bionic Woman. Silverman is also importing another Colombian hit telenovela, whose title translates to Without Breasts There Is No Paradise, about a flat-chested girl who becomes a prostitute to pay for a boob job. On the reality side, he’s greenlighted a seventh edition of Donald Trump’s The Apprentice, given the Joey Fatone–hosted The Singing Bee a slot on the fall schedule and announced Phenomenon, a version of the Israeli show hosted by spoon-bending mentalist Uri Geller. “I like quality with noise,” Silverman says. “Big, big, bold hits, you know, but that also have elements of profound engagement.”

Whether they fail or flourish, network entertainment heads tend to have short tenures—Reilly held the job for three years before getting fired; before him, Zucker did the job for four years before being promoted up the corporate ladder—and Silverman isn’t planning to spend the rest of his life at NBC. A donor to such Democratic candidates as Hillary Clinton and Barack Obama, he says he wants to eventually “devote myself to public service.

“I may run for office,” he tosses off with trademark confidence, “but I also think America needs a chief marketing officer.” —GABRIEL SNYDER

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Call her the mayor of iVillage

Published: Wednesday, April 18, 2007

-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]

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

Published: Thursday, April 12, 2007

-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?

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Jeff Immelt will do anything to make GE cool

Published: Thursday, February 15, 2007

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]

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The New York Post's Terry Keenan makes solidish point

Published: Monday, February 12, 2007

Who said the Post didn't know shit? It wasn't us but we're sure we've heard it before. Anyway in an article published Sunday on the Post's website, Terry Keenan explains why GE CEO Jeff Immelt could be talking out of his ass when it comes to NBC Universal. Immelt has been asked repeatedly over the last few months whether or not he will sell or spin off the media/entertainment unit which many say is the anchor on GE' stock. And Immelt has repeatedly said no. We were cool with his answer until of course the Post got all technical, but we have to admit we kinda agree. Installing Jeff Zucker as NBC Universal CEO could be Immelts last try at boosting the unit's performance and if this try fails, NBC Uni and Jeff Zucker could be shown the door.
Is it any wonder that with a purported value of nearly $40 billion, there are suggestions Immelt would shed slow-growing NBC if he finds a better place to put GE's money?

And why not? For all the negative ink generated by the unit, NBC/Universal remains a fairly insignificant part of GE's overall profit picture, accounting for about 13 percent of its net income - and falling in recent years. If re-insurance, advanced materials and plastics didn't make the cut under Immelt, why should NBC be spared?
If NBC is spared if it doesn't live up to Immelt's expectations, then we have to believe that Immelt, secretly loves having a hand in Hollywood where he can rub elbows with some of the brightest.

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Don't f**k with Jeff Immelt's NBC bunch

Published: Friday, February 09, 2007

GE CEO Jeff Immelt is very over protective of his NBC bunch. Not only is he claiming that talks of GE selling off NBC Universal are made up, he also shrugged off former GE boss Jack Welch's comment in a New York Magazine article where he said that if he was still in power Jeff Zucker would be out of a job. Immelt is also coming out swinging in 'Money Honey's" Maria Bartiromo defense as well.


'New York' magazine report Asked about New York magazine's report that former GE chief Jack Welch said he would have fired Jeff Zucker by now -- the same Mr. Zucker named CEO of NBC Universal on Tuesday -- Mr. Immelt basically shrugged. "I've talked to Jack since the New York article," he said. "He says he didn't say it. Even if he did say it, I don't really care. He's been gone five years."

Mr. Immelt also had the opportunity to defend CNBC star Maria Bartiromo, who has been scrutinized over her travel and close dealings with former Citigroup executive Todd Thomson. "We've completed the review," Mr. Immelt said. "She did nothing wrong."


GE's Immelt: NBC Universal Not For Sale [AdAge]

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Jeff Immelt already placing Jeff Zucker under resignation causing pressure

Either GE's Jeff Immelt has extreme confidence in his corporate boy yoy Jeff Zucker, or he is indirectly sending warnings to him about delivering the goods. Jeff Zucker you better pull a Bob Iger out of that ass of yours because we see some real bad things happenings if you don't.


General Electric Chairman Jeffrey Immelt is vehement about his company's desire to keep NBC Universal - that is, until he's asked about the prospect of the division not meeting its financial targets.

When asked yesterday what would be NBC's fate if it didn't meet the same kinds of performance metrics that other GE divisions are subject to, Immelt responded to The Post, "It's going to meet those goals."

When pressed again about what course of action GE would take if NBC didn't meet its earnings guidance of 5 percent to 10 percent growth, Immelt walked away without responding.

CHATTY IMMELT CLAMS UP ON NBC'S PROSPECTS [NYP]

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Jeff Immelt is going to be so far up Jeff Zucker's ass, when he spits, it will come out Jeff Zucker's mouth

Published: Wednesday, February 07, 2007

We said yesterday and we'll say it again. GE CEO Jeff Immlet had better keep his hands out of the NBC Universal pot and allow new CEO Jeff Zucker to live up to his (Immelt's) praises. There is word that the Industrial exec is planning to hold on to the Chairman title when Bob Wright hands it off this spring. OK so Immelt wants to keep a close eye on Zucker, we would too after selling our CEO nomination with much praise and what many call hype. Guess Immelt wants to make sure Zucker doesn't make him eat his words. Then again perhaps Zucker is the cherry on top of a big pie GE wants to eventually sell.

General Electric Chairman Jeff Immelt's increased involvement in the direction of NBC Universal could be a sign that the entertainment giant's parent is mulling an eventual exit from the TV and film business. Three sources close to the company said that keeping NBC for the long-term remains very much an open question in Immelt's mind, and added he could look to sell the asset if it doesn't significantly improve in the next 12 months.

IMMELT'S RISE COULD HERALD SALE OF NBC TV, MOVIES [NYP]


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For Bob Wright, life after NBC Universal should be fun

Published: Tuesday, February 06, 2007

Now that former NBC Universal Chairman/CEO Bob Wright has some time on his hands, we're sure he will spend it doing more work on behalf of Autism. However we figured he shouldn't spend all his time working. So we came up with some fun things Mr. Wright could do with his time that will, make him realize what he’s been missing while in the trenches at GE and NBC.


  • Stay up late and watch The Tonight Show with Jay Leno
  • Call Katie Couric and tell her that Meredith Vieira can't and will never fill her shoes
  • Take a long sunny vacation and catch up on all the news coverage Jeff Zucker got while waiting for Jeff Immelt to promote him
  • In a month, walk through the offices of NBC Universal and witness how employees are programmed to ignore people with no power.
  • Swim naked like Sumner Redstone in your swimming pool
  • Call Jeff Zucker next Monday and tell him he's been punkd
  • Email a list to all at NBC Universal with the top 10 reasons Jeff Zucker got your job
  • Call Jeff Immelt at 1am tomorrow morning and tell him you had a bad dream that he gave your job away
  • Call Les Moonves and feed him inside information on plans the new boss has for the company

Off our rockers as usual!

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Jeffrey Immelt better not wrap his hands around the Peacock's neck

For the sake of NBC Universal, Jeff Zucker, GE and Jeff Immelt himself, we trylly hope the GE CEO doesn't keep the peacock in a choke hold all in the name of keeping tabs. Immelt unilaterally chose Jeff Zucker as the new Bob Wright, so it is only fare that he allows him to do his job with full control and power. Immelt snooping on the media side of things could cause some problems and we think he is smart enough to know this. When Bob Wright fully departs Zucker should be handed the additional title of Chairman and left alone to make or break NBC Uni. However the Post seems to be hearing different.

One option is for Immelt to assume the title of chairman of the NBC board once Zucker's predecessor, Bob Wright, leaves the company sometime in the second half of this year.

"Immelt is planning on taking a more direct role at NBC" after the transition, one source said.
ZUCKER SET AS BOSS WITH LIMITS AT NBC [NYP]

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Weekend Wire: The Immeltization of the Zuckerization of NBC Universal

Published: Saturday, December 02, 2006

Another top NBC Universal exec is out and being replaced by a suit from parent company General Electric. This is GE CEO's Jeffrey Immelt's doing. Immelt is planting his own eyes and ears within his media unit to babysit Jeff Zucker when he takes the reigns of the company.

Keith Turner, who has led NBC's ad sales for the past eight years, is leaving the company, NBC Universal Chairman Bob Wright announced in an internal memo yesterday.

Sources familiar with the matter said Turner, a nearly 20-year veteran of NBC, is expected to be replaced by an executive from a unit of General Electric, whose businesses include light bulbs, appliances, power turbines, aircraft engines and commercial financing.
TOP EXEC TURNER EXITS NBC NETWORK [NYP]

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