A longtime Comcast executive, Steve Burke is expected to leave
when contract ends
By Joe Flint
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (December 14, 2019).
NBCUniversal Chief Executive Steve Burke is expected to step
down by August, when his current contract expires, and his most
likely successor at the media company is Universal
film-and-entertainment boss Jeff Shell, people familiar with the
matter said.
Mr. Burke, who also is a senior vice president of NBCUniversal
parent Comcast Corp., has been planning his exit for some time
after a two-decade run at the cable and entertainment giant, the
people said.
The 61-year-old executive differs from many in his industry in
that he hasn't shown an inclination to keep working into his late
60s or 70s. He wants to enjoy a less-stressful life, including
spending more time at his lodge in Montana, said people familiar
with his thinking. His father, Daniel Burke, who also was a
prominent media executive, retired at 65.
As NBCUniversal chief, a position he has held since Comcast
acquired control of the company in 2011, Mr. Burke oversees a
sprawling operation that includes the NBC broadcast network, the
Universal studio and theme parks, cable channels such as MSNBC, USA
Network and Bravo and Spanish-language network Telemundo.
News of Mr. Burke's expected departure and Mr. Shell's likely
promotion was reported earlier by Variety and the Hollywood
Reporter.
Mr. Burke's main objectives during his remaining time at
NBCUniversal are overseeing next April's launch of Peacock, the
company's direct-to-consumer streaming service, and coverage of the
2020 Summer Olympics in Tokyo, the people familiar with the matter
said. Peacock will be a relatively late entrant in a field that
includes juggernauts Netflix Inc. and Walt Disney Co.'s Disney+ and
Hulu, as well as Amazon.com Inc. and others.
Mark Lazarus, chairman of NBC Broadcasting and Sports and
overseer of the company's East Coast-based content businesses, also
had been considered for Mr. Burke's position, according to people
familiar with the matter.
A 14-year Comcast veteran, Mr. Shell has held a variety of
positions including overseeing international operations and cable
networks such as the company's regional sports channels. In his
current post, he essentially is in charge of all entertainment
content in the television and movie operations. He is described by
colleagues as highly analytical, with an easygoing temperament.
Mr. Shell had no movie experience when he was handed the keys to
Universal Studios in 2013, but it has had a solid run during his
tenure. On his watch, the studio has had hits from mega-franchises
such as "Jurassic World" and "Fast & Furious," and
smaller-budget success stories including the horror film "Get Out,"
R-rated comedies such as "Girls Trip" and animated offerings like
"The Secret Life of Pets."
Not every film strategy hatched under Mr. Shell worked. An
attempt to revive Universal's classic corps of monsters, starting
with Tom Cruise in a remake of "The Mummy," fizzled after that film
flopped in 2017. The most recent sequel from Illumination, the
animation studio behind the "Despicable Me" franchise, underwhelmed
at the box office and prompted questions about the pacing of
Illumination releases.
Mr. Shell would face myriad challenges as CEO. Like all
broadcast networks, NBC has endured sharp rating declines over the
past decade as viewers cancel pay-TV service and flock to streaming
platforms. On the positive side, NBC is threatening this year to
surpass CBS as the most-watched network. NBCUniversal's cable
networks face similar issues. MSNBC has been a bright spot. Like
other cable news channels, its ratings got a lift in recent years
from interest in the coverage of Donald Trump's candidacy and
administration.
The challenge for NBCUniversal and other major media companies
is to continue generating enough revenue from advertising and
subscription fees to maintain aggressive spending on content.
Peacock will contain of mix of original programming and a deep
lineup of classics, from "Cheers" to "Frasier" to "The Office."
Comcast is planning to spend $2 billion on marketing and
programming for the service, which will likely have ad-supported
and commercial-free options.
Mr. Burke has been with Comcast since 1998 and is close to
Comcast Chairman and CEO Brian Roberts. Before joining Comcast, he
spent 12 years at Disney and was a president of the company's ABC
unit.
His reign as NBCUniversal CEO wasn't without controversy,
especially in the news division. Matt Lauer, longtime anchor of the
morning show "Today," was forced out in 2017 after an allegation of
sexual assault, and critics accused the company of turning a blind
eye to his conduct for years. NBC said it acted promptly after the
complaint was lodged. Mr. Lauer has acknowledged a consensual
sexual relationship but denied the assault allegation.
Former NBC correspondent Ronan Farrow accused NBC News of
sitting on a story he was working on about movie producer Harvey
Weinstein that included accusations of sexual assault. Mr.
Weinstein has denied the allegations. NBC leadership has
steadfastly denied it sat on the story, arguing it wasn't ready to
air. Mr. Farrow ended up publishing his story in the New Yorker and
was awarded a Pulitzer Prize.
NBC News's hiring of former Fox News anchor Megyn Kelly proved
to be a flop when her ratings were disappointing. She exited early
this year.
Erich Schwartzel contributed to this article.
Write to Joe Flint at joe.flint@wsj.com
(END) Dow Jones Newswires
December 14, 2019 02:47 ET (07:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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