Report: NBC Mulls Canceling Upfront Presentation

NEW YORK, January 18: As the writers strike continues, NBC
Universal, which today reported an 8-percent hike in fourth-quarter revenues,
is said to be close to canceling its annual Upfront presentation, where it
unveils the new fall prime-time schedule to advertisers, affiliates and the
press.

According a Reuters report, Jeff Zucker, NBC Universal’s
president and CEO, has said that meetings with advertisers will continue, but
the Radio City Music Hall glitzy presentation may be cancelled. “The way that
we sell the inventory in an upfront selling period is not going to change,”
Zucker told Reuters. “Whether we still need to do the dog-and-pony show is
completely under review here and you can look for an announcement on that from
us very soon.”

Meanwhile, NBC Universal’s parent company, GE, today
reported its fourth-quarter and year-end results. For the company as a whole,
fourth-quarter revenues rose 18 percent to $48.6 billion, while for the year
they gained 14 percent to $172.7 billion. Profit rose 4 percent for the quarter
to $6.7 billion and 7 percent for the year to $22.2 billion.

At NBC Universal, revenues were up 8 percent to $4.5 billion
for the quarter, but down 5 percent to $15.4 billion for the year. Segment
operating income gained 10 percent in the quarter to $923 million, and 6
percent in the year to $3.1 billion.

Announcing the results, GE’s chairman and CEO, Jeff Immelt,
noted: “NBC Universal delivered 10-percent segment profit growth in the quarter
for its fifth straight quarter of profit growth. Film had its best year ever,
with strong global growth. Entertainment and Information Cable had record
ratings and solid earnings growth. The network continues to improve its
programming and cost position.”

—By Mansha Daswani