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☆ NBCUniversal insiders are asking what's next after CEO Jeff Shell's 'shocking' exit, and female execs are watching leadership closely after a string of high-profile sexual allegations
▼ + stars: | 2023-04-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

They're asking what Comcast exec Mike Cavanagh's elevation to handle Shell's remit means for NBCU's future. NBCUniversal insiders are reeling after chief Jeff Shell's stunning departure and asking questions about what's next for the Comcast division. News of Shell's hasty exit dropped Sunday after an investigation into what he called an "inappropriate relationship" with a company employee. "It's shocking," said one employee, wondering how an executive at Shell's level would take such a risk with his career. Keeping Cavanagh atop NBCU could serve another purpose — to help bring about a merger of Comcast with Warner Bros.

☆ NBCUniversal faces a set of company-defining decisions as CEO Jeff Shell departs
▼ + stars: | 2023-04-24 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Shell announced he was departing the company immediately Sunday after admitting to an inappropriate relationship with an NBCUniversal employee. DiscoveryThe elephant in the room with NBCUniversal is the frequent speculation in media circles that a merger with Warner Bros. Warner Bros. Warner Bros. Warner Bros.

☆ NBCUniversal CEO Jeff Shell exits after an 'inappropriate relationship,' shocking insiders, and Comcast won't rush to replace him as corporate exec Mike Cavanagh steps up
▼ + stars: | 2023-04-24 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

NBCUniversal CEO Jeff Shell's exit shocked company insiders and all of Hollywood. NBCUniversal CEO Jeff Shell's bombshell departure on Sunday night was a surprise to the well-regarded executive and also to his closest colleagues. Deadline reported that Shell's relationship was with CNBC's senior international correspondent, Hadley Gamble, which lasted 11 years but had ended a couple of years ago. "Comcast is as buttoned-up and straight as ever — this is a black eye for Brian Roberts," the Comcast CEO. A second company insider, however, said that Cavanagh is expected to remain in the role for some time.

☆ Jeff Shell out as NBCUniversal CEO after probe into inappropriate relationship
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] CEO of NBCUniversal Jeff Shell attends the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 6, 2022. REUTERS/Brendan McDermidApril 23 (Reuters) - NBCUniversal Chief Executive Jeff Shell is leaving after acknowledging an inappropriate relationship with a woman in the company, following a complaint that prompted an investigation, parent company Comcast Corp (CMCSA.O) said on Sunday. "I had an inappropriate relationship with a woman in the company, which I deeply regret," Shell said in a statement. Shell, previously chairman of NBCUniversal Film and Entertainment, took over as CEO in 2020, replacing Steve Burke. NBCUniversal is one of the world's largest media companies, encompassing movie and TV studios, theme parks, NBC News and cable TV networks.

☆ NBCUniversal CEO Jeff Shell is stepping down following an 'inappropriate relationship' with a colleague
▼ + stars: | 2023-04-23 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +2 min

NBCUniversal CEO Jeff Shell is leaving the company over an inappropriate relationship with an employee. The CEO of NBCUniversal, Jeff Shell, is stepping down immediately following an investigation into a complaint of inappropriate conduct, Comcast announced Sunday. "Today is my last day as CEO of NBCUniversal," Shell said in a two-paragraph statement. "I had an inappropriate relationship with a woman in the company, which I deeply regret. Shell became CEO of NBCUniversal in 2020 and was chairman of Universal Filmed Entertainment Group from 2013 to 2019.

Jeff Shell left his role as NBCUniversal CEO on Sunday after he admitted an "inappropriate relationship" with a woman in the comany, corporate parent Comcast announced. The complaint was filed by the woman with whom Shell said he had an "inappropriate relationship," according to people familiar with the matter. Roberts will also get more involved with the NBCUniversal business alongside Cavanagh, the person said. He oversaw the company's theme parks, its Peacock streaming service, sports production operations, television stations group, and entertainment and news television networks like NBC News. Before taking the helm as CEO, Shell was chairman of NBCUniversal Film and Entertainment.

Iger said this week that while a spinout was considered in his absence, it was concluded ESPN should stay with Disney. Another proposition floated to Disney was to have Comcast buy out Hulu. Iger has previously championed Hulu as part of Disney's strategy to offer three relatively low-priced services (Disney+, Hulu and ESPN+) rather than one mega-product that would likely be the most expensive streaming service. Selling Hulu would unwind this strategy, and it also may lead to cancellations of Disney+ and ESPN+. Even if Disney buys the remaining stake of Hulu, the sides must agree on fair market value.

Comcast Corp. named a company insider as its next finance chief as the cable and media sector grapples with cord-cutting customers and deterioration in the ad market. Jason Armstrong was appointed chief financial officer, Philadelphia-based Comcast said Friday, after serving for the past nine years in various financial leadership positions. Mr. Armstrong most recently served as deputy CFO and treasurer, responsible for capital formation, capital allocation, credit-related matters and investment management activities. Jason Armstrong, chief financial officer of Comcast. Photo: Comcast CorpSince joining Comcast in 2014, Mr. Armstrong has also had the roles of CFO of Sky, Comcast’s pay-TV giant, and head of investor relations and finance.

☆ Vince McMahon is back at WWE to ensure a smooth sale process. Here's who might want to buy it
▼ + stars: | 2023-01-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +8 min

WWE has hired JPMorgan to help the company advise on a potential sale, according to people familiar with the matter. But it remains unclear what type of role, if any, McMahon would want at WWE if he sold the company. WWE has a market capitalization of more than $6 billion after rising nearly 17% percent on Friday, buoyed by heightened sale speculation. McMahon's company already has an exclusive streaming deal with Comcast's streaming service, Peacock, and a cable TV deal with NBCUniversal's USA Network. Fox sold off most of its entertainment assets in its $71 billion sale to Disney in 2019, but WWE fits with the smaller company's sports and live events focus.

☆ Sky spinoff is Comcast’s least-bad option
▼ + stars: | 2023-01-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

The boss of U.S. media giant Comcast (CMCSA.O) may want to make an exception for Sky. Including acquired debt, Roberts paid a multiple of 15 times Sky’s EBITDA to clinch the deal, two and a half times the company’s enterprise value before the takeover battle began. The financial consequences of Roberts’ determination became apparent in October when Comcast took a non-cash impairment charge of $8.6 billion related to Sky. Goldman Sachs analysts expect Sky to generate adjusted EBITDA of $2.1 billion in 2023, nearly one-third less than in 2019. Comcast said on Oct. 27 that it took a non-cash impairment charge of $8.6 billion related to Sky assets for the third quarter of 2022.

☆ The biggest media targets and buyers in 2023, as speculation swirls around Disney's next move under CEO Bob Iger and how Warner Bros. Discovery can shed debt
▼ + stars: | 2022-12-19 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ Bob Iger's return as Disney CEO opens new possibilities for Hulu deal with Comcast
▼ + stars: | 2022-12-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

Disney will write "a big check" for Comcast's 33% share of Hulu, said NBCUniversal CEO Jeff Shell. With Bob Iger returning as Disney's CEO, Comcast is hoping for a broader conversation to seal the deal. Comcast is eyeing assets such as ESPN, FX, and NatGeo in return for surrendering its stake in Hulu. Former Disney CEO Bob Chapek, who was unceremoniously fired on November 20, refused to hold any talks on the topic with Comcast CEO Brian Roberts, according to a Comcast insider and a high-level Hollywood executive familiar with thinking inside Disney. Representatives for Hulu, Disney, and Comcast had no comment.

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☆ From Apple and Disney to Warner Bros. Discovery, here's the 2023 media deal outlook for Hollywood's biggest companies, according to 13 bankers and industry experts
▼ + stars: | 2022-12-06 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

☆ Hulu insiders are confused and frustrated about their future as Disney and Comcast battle it out for control of the streamer
▼ + stars: | 2022-10-20 | by ( Lucia Moses | Elaine Low | ) www.businessinsider.com time to read: +10 min

Sparring between Disney and Comcast CEOs over Hulu has stoked uncertainty among insiders about the streamer's future. Many wonder how Hulu will stay differentiated from Disney+ if Disney becomes Hulu's sole owner. Insiders and advertisers alike are also watching to see if Hulu will lose some of its distinctiveness as Disney invests more in Disney+. "That was a clear departure from Disney being family-focused and Hulu being general entertainment," said a second former Hulu exec. And as the CEOs posture, people inside the streamer are eager for leadership to tell them, as a third former company insider put it, "what Hulu means to the Walt Disney Company."

☆ ESPN would help Disney and Comcast settle a score
▼ + stars: | 2022-09-23 | by ( Jennifer Saba | ) www.reuters.com time to read: +7 min

NEW YORK, Sept 23 (Reuters Breakingviews) - When it comes to modern corporate sagas, few deliver the drama between Walt Disney (DIS.N) and Comcast (CMCSA.O). Comcast Chief Executive Brian Roberts is in position to let his counterpart squirm, but there’s a neat solution to help settle the score: ESPN. He feared Comcast “would have paid more later.”Register now for FREE unlimited access to Reuters.com RegisterBefore long, Comcast clashed again with Disney. To settle the matter, the two parent companies agreed that in January 2024 Comcast could force Disney to buy its stake or Disney could require Comcast to sell based on a minimum valuation of $27.5 billion. Disney owns two-thirds of Hulu and Comcast owns the rest.

☆ Warner Bros. Discovery CEO David Zaslav faces 3 key challenges as financial headwinds disrupt his strategy and threaten his promises to Wall Street
▼ + stars: | 2022-09-22 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +12 min

MoffettNathanson analyst Robert Fishman crystallized the daunting task ahead for Zaslav and WBD in his August 5 report "Reality First. The honeymoon was short-lived," said one senior Hollywood insider. It turns out there are five, housing some 40,000 employees globally: Warner Bros., HBO Max, the Turner entertainment channel business, CNN, and Discovery. The WBD insider said there isn't a rush to hire a new chief and that the company will continue to meet people. Under the ownership of AT&T, WarnerMedia's financials were buried in its parent's spreadsheets — now as a pure-play entertainment company, Warner Bros.

☆ Disney CEO says he'd 'love' to merge Hulu into Disney+ — but there's one major obstacle in the way
▼ + stars: | 2022-09-21 | by ( Travis Clark | ) www.businessinsider.com time to read: +2 min

Disney CEO Bob Chapek hinted recently that he wants to integrate Hulu into Disney+. Disney CEO Bob Chapek told investors last week that he'd "love" to get to a point sooner than later where Disney can integrate Hulu into Disney+. "We'd have to have full ownership of Hulu to integrate it into Disney+," Chapek said last Wednesday. Comcast CEO Brian Roberts has said that the company would be "interested" if Hulu was up for sale. It had 13 million subscribers as of the most recent quarter, showing no growth compared to the previous one.

Disney Chief Executive Officer Bob Chapek said he'd love to own Comcast's 33% stake in Hulu "tomorrow" but acknowledged the chances of an early deal are "less and less" as 2024 approaches. Comcast has an existing mutual agreement with Disney to sell its minority Hulu stake as early as January 2024. Comcast CEO Brian Roberts said Wednesday he would also like to own Hulu if Disney decided to put the streaming service up for sale. The best way to value Hulu is to figure out what it would sell for in a theoretical auction, Roberts said Wednesday at the conference. Chapek told Faber this year's dip in the public valuation of Netflix should factor in to the eventual sale price.

The future of Hulu continues to be an open question as Comcast and Disney still haven't agreed on terms that will settle the company's future ownership. But Comcast executives are planning on Disney buying them out — even if they'd prefer otherwise. Disney owns two-thirds of Hulu and has an option to buy the remaining 33% from Comcast as early as January 2024. Some analysts and industry watchers have speculated Comcast might try to buy Hulu from Disney rather than the other way around. Disney could have positioned Hulu as its advertising play going forward, but CEO Bob Chapek has chosen to make versions of both Disney+ and Hulu with and without commercials.

☆ It's time to get rid of managers. All of them.
▼ + stars: | 2022-05-12 | by ( Molly Lipson | ) www.businessinsider.com time to read: +15 min

What would happen if a company completely got rid of middle managers? In 2012, the publishing company Medium restructured its organization and moved away from centralized management power. The model gets rid of managers and spreads their responsibilities across different roles, giving average workers more of a voice. The reality is that psychological safety isn't intrinsically available to everyone, and holacracy doesn't have anything in it to ensure that safety." It's true that holacracy doesn't eliminate the power structures determined by characteristics such as race, gender, age, and sexuality.

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