Steve Burke, the new CEO of NBC Universal, indicated in the latest Comcast earnings announcement that the future of the new Comcast subsidiary will include cost-cutting that may mean NBC will no longer broadcast the Olympics, reports StudioBriefing.net.
Burke commented about sports telecasts in general, but specifically mentioned that the network lost more than $220 million on the Vancouver Olympics, adding that the company may not be willing to bid for the Games in the future.
Comcast CEO Brian Roberts, meanwhile, called NBC News the crown jewel of the company, and said Comcast’s approach with its new NBC Universal acquisition will be “to restore, rebuild, regrow and invest, not to radically change or undo, but to try and build up.”
Burke said his focus for now is more on NBC Universal’s profitable cable channels rather than the unprofitable NBC broadcast network. He indicated it could take as much as five years for the NBC network to turn around.