A Moment of Pride

NBC Entertainment is obviously the one piece we need to improve on,CEO Jeff Zucker continued.We're paying the people of NBC Entertainment to go with their gut.NBC has been a part of GE for 21 years.They've been a fantastic parent.I hope it continues for at least another 21 years.The fact that we're tracking ahead of the 2004 Athens Olympics,given what's happened to network television,is a tremendous accomplishment.The Chinese have a lot to be proud of.The Olympics hold a special place in my life.It's just an honor to be part of the Olympics,Mr.Zucker exclaimed.

NBC and GE

We need to embrace one another,Jeff Zucker,CEO of NBC Universal,said of his network and its parent company, General Electric(GE).We've had a very active 16 months in trying to reshape NBC Universal.The fact is,Jeff Immelt,CEO of GE,has been very clear that NBC is a very important part of GE.When the pipes work,there's nothing like it.Nobody has spent more on the media space than GE has on NBC Universal the past 16 months,Mr.Zucker revealed.Telemundo,the Spanish language network,remains an incredibly important part of NBC-U.It's been harder than we thought it would be to develop it.We need to continue to improve there,but I'm confident that will happen,Mr.Zucker asserted.

The Digital Moment

Record numbers of fans have been turning to NBC Olympics.com,CEO Jeff Zucker noted.It is a watershed moment for NBC.One of the great things is the tremendous use of our digital properties.We're going to come out of this Olympics with great digital knowledge.There's no question we still have to learn how to monetize the digital page views,Mr.Zucker admitted.

Inside Media:The Power of a Network

Jeff Zucker,CEO of NBC Universal,has been reviewing the first week of his network's Olympics coverage.It's been a great week for NBC Universal,Mr.Zucker concluded.The ratings have been terrific.Advertisers have asked to be let into the party.The great story is,this shows the power of network television.The pipes work.If you put on programs people want to watch,they'll show up.NBC paid 900 million dollars U.S. for exclusive access to the games.We've been able to bottle that excitement since the opening ceremony.NBC-U is providing 3600 hours of coverage,75% of it live,over its seven networks.

A Candid Admission

Speaking candidly,NBC Universal CEO Jeff Zucker admitted that its theme parks are suffering from the weak U.S. economy.Attendance and DVD sales are not what they've been.Nonetheless,box office and T.V. advertising are still strong.The video content on recently-acquired Hulu is premium,quality content,so advertisers are supporting it-unlike YouTube,Mr.Zucker stated.As for the parent corporation,Mr.Zucker said that,in the past 12 months,General Electric has been incredibly supportive of NBC Universal.GE CEO Jeff Immelt has made it clear that NBC-U is an important part of the GE portfolio.There's no question that consumer-facing businesses are struggling right now,Mr.Zucker said.I think it'll hold up pretty well for us,and the flip side is that we're making acquisitions,the media executive pointed out.

Acquisition Part of Big Move

The Weather Channel is the third most-distributed cable network,NBC Universal CEO Jeff Zucker noted.NBC-U has worked with co-acquirer The Blackstone Group before-on its Orlando theme parks.They have a lot of history with them,Mr.Zucker said.Launched on May 2,1982,The Weather Channel reaches 96 million homes.They have been great in their space,have owned their space for a long time.We're just thrilled they're a part of the NBC family,Mr.Zucker enthused.Although NBC remains an important part of NBC-U,there's been a big move-we've really moved to become a cable network company.The real strength of the company has become the cable portfolio,and that's going to continue in the years ahead,Jeff Zucker predicted.

Weather Channel Deal

NBC Universal,a division of General Electric(GE),is acquiring The Weather Channel from Landmark Communications for 3.5 billion dollars.The Blackstone Group(BX) and Bain Capital are also participating in the acquisition.Jeff Zucker,CEO of NBC-U,says that they are a news and information company.The cable portfolio is the backbone of who they are.NBC-U owns MSNBC,CNBC,Bravo,USA Network,Oxygen and Sci-Fi.The digital unit of The Weather Channel,weather.com,fits in NBC-U with 40 million unique monthly visitors.The deal,which is expected to close by the end of 2008,is leapfrogging NBC-U into whole new areas,Mr.Zucker maintains.They get a great strategic asset at a very fair price.