Zucker: No GE Plans to Unplug NBCU
NBC Universal CEO Jeff Zucker: General Electric has no plans to sell off division.
By B&C Staff -- Broadcasting & Cable, 7/11/2008 7:30:00 AM
NBC Universal CEO Jeff Zucker emphatically told AP that parent General Electric has no plans to sell off his division, as GE separately will unload its giant consumer-products business.
Zucker said GE chairman and CEO Jeff Immelt “has made it clear that NBCU is an important part of the GE portfolio,” and the July 6 deal for NBCU to lead a $3.5 billion buy of The Weather Channel underscores that commitment.
“In the past 12 months, GE has been incredibly supportive,” Zucker said in side comments Thursday while attending the annual Allen & Co. media conference.
“There’s no question that consumer-facing businesses are struggling right now,” he added. “I think it'll hold up pretty well for us, and the flip side is that we're making acquisitions.”
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