NBCU’s Zucker Utters ‘R’ Word
January 23, 2008 1:32 PM
According to today’s New York Times, NBC Universal chief executive Jeff Zucker said, “It’s clear we are in a recession in the United States, and we’re going to have to manage our business accordingly.”
That means the meltdown in the economy, coupled with the ongoing writers strike, are two factors pushing the network to drastically cut the number of pilots it generally orders, in the hope of saving $50 million a year.
Instead, the company announced it had agreed to buy a 26% stake in New Delhi Television of India. According to the New York Times, that stake is worth about $150 million.
So while economists now are talking about the “uncoupling” of the global markets, NBCU plans to grow through international expansion.
Question of the day: Does anyone believe that we are not in a recession?