Mike Cavanagh: Last News

Rebecca Rubin Film and Media Reporter Jeff Shell is stepping down as CEO of NBCUniversal following a misconduct investigation, which found he had an “inappropriate relationship” with a woman in the company. Comcast, the parent company of NBCUniversal, and Shell announced the news in a joint statement, saying they have mutually agreed that Shell will depart effective immediately following a third-party investigation into a complaint of inappropriate conduct. “Today is my last day as CEO of NBCUniversal,” Shell wrote in a memo to staff. “I had an inappropriate relationship with a woman in the company, which I deeply regret. I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”

Comcast President Mike Cavanagh said the media giant would of course consider alternative proposals for its stake in Hulu but they’d have to top its longstanding agreement to sell its remaining stake in the streamer to Disney next year.

NBC Universal CEO Jeff Shell said the company is always eyeing possible deals to bolster its business, citing the $3.8-billion acquisition of DreamWorks Animation in 2016 and Universal’s partnership with Blumhouse Productions.

NBCUniversal CEO Jeff Shell said execs at the company and parent Comcast are “more confident” than they were a year or two ago that investments in streaming service Peacock will soon yield profits. How soon remains a bit unclear, however.

Comcast has upped its Deputy Chief Financial Officer Jason Armstrong to the CFO post, succeeding Mike Cavanagh, who was named president of the NBCUniversal parent last October.

BreAnna Bell Comcast Corporation has promoted Mike Cavanagh to president, making him the third person to occupy the role in the company’s 59-year history. He will continue to serve as chief financial officer in addition to working closely with chairman-CEO Brian Roberts on managing the company’s cable and broadband operations as well as NBCUniversal. “Today’s promotion will come as no surprise – Mike is admired and trusted by those who know and work with him,” Roberts said. “Mike has brought incredible operational and financial expertise to Comcast and is an integral part of our special company. He’s an outstanding partner and together we are focused on continuing to create new and exciting opportunities for growth.”  

Jennifer Maas TV Business WriterNBCUniversal revealed that its streaming service Peacock has 9 million paid subscribers during parent company Comcast’s fourth-quarter earnings call Thursday.Ahead of the call, Comcast reported in its letter to shareholders that Peacock hit 24.5 million monthly active accounts (MAAs) in Q4.“Within these 24.5 MAAs are over 9 million paid subscribers approaching $10 in paid ARPU, which includes the advertising,” Brian Roberts, Comcast chairman-CEO, said during the investor call. “And that is without much focus on paid subscriber growth.