Comcast (NASDAQ: CMCSA, CMCSK) and General Electric (NYSE: GE) announced today that Stephen B. Burke will become chief executive officer of NBC Universal (NBCU) upon the close of Comcast's acquisition of 51% of NBCU from GE.
Burke, 52, would succeed NBC Universal President and CEO Jeff Zucker, who will continue to serve in his position until the close of the transaction and will work with Mr. Burke to ensure a smooth leadership transition. Comcast and GE also said that there will be no additional structural or personnel announcements until the deal closing process and timing is certain.
Comcast Chairman and Chief Executive Officer Brian L. Roberts said, "Steve Burke is an experienced, talented and visionary leader with over 25 years in the media and entertainment industry. Steve is one of the most well-respected executives in the industry, and I am confident that he will lead NBCU forward to a new era of growth."
GE Chairman and Chief Executive Officer Jeff Immelt said, "I have known Steve Burke for many years and greatly respect him. He has deep expertise in this industry and I am very confident that he will be a strong leader for NBC Universal."
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE (www.ge.com) operates in more than 100 countries and employs about 300,000 people worldwide.
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA, CMCSK) (www.comcast.com) is one of the nation's leading providers of entertainment, information and communication products and services. With 23.2 million video customers, 16.4 million high-speed Internet customers, and 8.1 million Comcast Digital Voice customers, Comcast is principally involved in the development, management and operation of cable systems and in the delivery of programming content.
Comcast's content networks and investments include E! Entertainment Television, Style Network, Golf Channel, VERSUS, G4,PBS KIDS Sprout, TV One, 11 regional sports networks operated by Comcast Sports Group and Comcast Interactive Media, which develops and operates Comcast's Internet businesses, including Comcast.net (www.comcast.net). Comcast also has a majority ownership in Comcast-Spectacor, which owns two professional sports teams, the Philadelphia 76ers NBA basketball team and the Philadelphia Flyers NHL hockey team, and a large, multipurpose arena in Philadelphia, the Wells Fargo Center, and, through Global Spectrum, manages other facilities for sporting events, concerts and other events.
About NBC Universal
NBC Universal is one of the world's leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks. NBC Universal is 80% owned by General Electric and 20% owned by Vivendi.