Comcast blamed the worsening financial performance of NBCUniversal on a host of issues, including expensive content acquisition, sluggish advertising revenue and weak demand for TV programming. The company said it is reshaping its business to be more nimble and resilient in the face of these challenges.
Peacock’s struggles have rattled investors and some analysts have raised concerns about the future of the company. Peacock has warned shareholders that it expects losses to peak at around $3 billion this year. The string of lackluster results has raised questions about how long the company can continue to suffer through its current spate of misfortune.
In the past, Peacock’s strategy has revolved around acquiring new subscribers and building out its content to keep them. However, the increased spending on original programming seems to be paying off – their subscriber growth shows that people are still interested in what they have to offer.
This termination comes after an investigation into a complaint of an inappropriate relationship that took place within Comcast. President Mike Cavanagh will take on Shell’s duties until a replacement is found.
Comcast Corporation Chairman and CEO Brian L. Roberts released a statement on Tuesday, December 12th, stating that he had been terminated from his position at the company due to an “inappropriate relationship” with a woman at NBCUniversal. The incident is said to have taken place over 19 years ago, leading up to Shell’s resignation today. Roberts will be stepping down as chairman of Comcast but will remain in his role as CEO of NBCUniversal.