Comcast CEO Brian Roberts told investors this morning that financial results at NBCUniversal — his 51/49 joint venture with General Electric — could be “flat, slightly down” this quarter due to disappointments at Universal Studios. “This year we have an unfortunate large miss in Battleship and The Five-Year Engagement,” he said at the Sanford C. Bernstein Strategic Decisions Conference. Aside from the flops, the business is “where we expected.” But the results are head spinning following a strong Q1, with NBCU’s operating cash flow +34.3% with help from Safe House and Dr Seuss’ the Lorax. “We told everybody, don’t get used to that,” Roberts says. Elsewhere in NBCU, Roberts says that NBC’s “Bob Greenblatt is chipping away at a turnaround” for the broadcast network, while the cable networks “are great.” This summer’s Olympics in London probably won’t contribute to the bottom line, though. Comcast already accounted for the deal as an “unfavorable contract,” although Roberts says that “the Olympics haven’t begun yet so it’s all ratings dependent.” He hopes the games will “get to break even or better over the next decade” as NBCU increases showings on cable. Although Roberts initially said that there was no big surprise from the NBCU acquisition last year, he says he was startled to see “how steady the cash flow appears to be from the theme parks” with crowds flocking to Orlando’s The Wizarding World Of Harry Potter and the Transformers ride in Los Angeles. So will Comcast buy more programming assets? “We have a built in answer,” Roberts says. “We have to buy out GE over the next six years.” Indeed, he notes, the NBC balance sheet “is there to buy out GE.”
Comcast Chief: NBCU Earnings Torpedoed By 'Battleship' And 'Five-Year-Engagement'
What's Hot on Deadline
Sean Spicer Insists Donald Trump Plugged Judge Jeanine's Show Only Because He Is Fan, "Plain And Simple"
'Beauty And The Beast' Nears $700M WW; 'Kong' Has Mighty $72M China Bow, Tops $250M Offshore - International Box Office
Chuck Schumer Demands House Dump Intel Committee Chair Devin Nunes After White House Deflects Questions
Latest Film News
- WGA West's Board Votes To Send Strike-Authorization Ballots To Members
- Tom Rothman Takes A Shot At Netflix As He Reveals The “New Sony”; Plus ‘Spiderman’ Interview…
- ‘Jumanji’: How Director Jake Kasdan & Producer Matt Tolmach Are Changing The Game Of The Classic Book…
- Universal Sets Doctor Dolittle Film With Robert Downey Jr. For 2019
- Sony CinemaCon Presentation: ‘Spider-Man: Homecoming’, ‘Blade Runner 2049’, ‘Dark Tower’, ‘Emoji Movie’ & More…
- Paramount Sets Release Dates For ‘Suburbicon’, ‘Action Point’ & ‘A Quiet Place…