(NBC Universal is the parent company of the SciFi Channel.)
At Broadcasting & Cable:
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Zucker Calls For $500M Budget Reduction At NBC Universal
NBC Universal chairman tells staffers in internal memo that the company will cut spending by $500 million next year, 3% of the company's budget.
By Ben Grossman -- Broadcasting & Cable, 10/17/2008 5:03:00 PM
NBC Universal chief Jeff Zucker told staffers in a memo Friday that the company will be cutting spending by $500 million next year. According to the memo, that figure equals about 3% of the company’s budget.
“We are living in a time of unprecedented economic challenges, and it is increasingly clear that the worldwide economic slowdown will continue well into next year,” Zucker wrote. “As we have been working on our budgets and planning for 2009, it has become evident that the decline in consumer confidence and spending will impact our operations.”
The internal announcement comes on the heels of NBC Universal showing a 10% bump in third-quarter profits.
A source close to the network pointed out that the move positions the company to not only handle the current economic slowdown, but potentially be better positioned on the other side to avoid further cutbacks...
At Broadcasting & Cable:
(Please follow the link for the complete article.)
Zucker Calls For $500M Budget Reduction At NBC Universal
NBC Universal chairman tells staffers in internal memo that the company will cut spending by $500 million next year, 3% of the company's budget.
By Ben Grossman -- Broadcasting & Cable, 10/17/2008 5:03:00 PM
NBC Universal chief Jeff Zucker told staffers in a memo Friday that the company will be cutting spending by $500 million next year. According to the memo, that figure equals about 3% of the company’s budget.
“We are living in a time of unprecedented economic challenges, and it is increasingly clear that the worldwide economic slowdown will continue well into next year,” Zucker wrote. “As we have been working on our budgets and planning for 2009, it has become evident that the decline in consumer confidence and spending will impact our operations.”
The internal announcement comes on the heels of NBC Universal showing a 10% bump in third-quarter profits.
A source close to the network pointed out that the move positions the company to not only handle the current economic slowdown, but potentially be better positioned on the other side to avoid further cutbacks...
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