Jeff Shell, CEO of NBCUniversal, Steps Down After Inquiry

The inquiry into Mr. Shell began in recent weeks after the woman involved in the relationship came forward with a complaint, according to two people familiar with the timeline of the investigation. Mr. Shell continued in his duties while the investigation proceeded, taking previously scheduled meetings with lawmakers in Washington and working on other matters. Mr. Shell was also scheduled to attend the White House Correspondents’ Association Dinner in Washington with his wife next Saturday.

The investigation, conducted by an outside law firm, was not widely known throughout Comcast until its conclusion, according to three people familiar with the matter. Mr. Roberts and Mr. Cavanagh called executives who directly work with Mr. Shell this weekend to tell them Mr. Shell was leaving and to brief them on the abrupt leadership transition.

While not the largest movie studio in Hollywood, Universal Pictures has been quite successful. Highlights from 2022 included “Jurassic World: Dominion” and “Minions: Rise of Gru.” This year started even stronger, with “The Super Mario Bros. Movie” closing in on $900 million in worldwide ticket sales after only three weekends in theaters, making it the company’s highest-grossing animated film in its history.

Other highly anticipated films set for release this year include the 10th iteration of the “Fast and Furious” franchise along with Christopher Nolan’s highly anticipated “Oppenheimer,” about the famed nuclear physicist. The studio has also started a flexible distribution strategy that uses a staggered rollout between theaters and its streaming service, Peacock, for bigger films. For smaller titles, like “Marry Me,” starring Jennifer Lopez, and the horror film “Firestarter,” which both came out last year, the theatrical and streaming debuts are simultaneous.

The company’s theme parks have also been a bright spot, with higher attendance and guest spending leading to record profits last year. The company is planning to open theme parks in Las Vegas and Frisco, Texas, in the next several years.

The company is set to report quarterly earnings this week, a conference call that will be closely scrutinized.

Article source: https://www.nytimes.com/2023/04/23/business/media/jeff-shell-nbc-comcast.html