In the latest sex scandal to shake Hollywood’s executive ranks, NBCUniversal Chief Executive Jeff Shell is stepping down after three years in the top job due to “an inappropriate relationship,” parent company Comcast Corp. announced Sunday.
Shell oversaw NBCUniversal’s entertainment operations and had been with Comcast for roughly two decades. “I had an inappropriate relationship with a woman in the company, which I deeply regret,” Mr. Shell said in a statement. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down.”
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| Jeff Schell |
Comcast President Mike Cavanagh will oversee Mr. Shell’s operations until a successor is named. Key NBCUniversal executives including Mark Lazarus, who oversees NBCUniversal’s television and streaming businesses, and Donna Langley, who manages theatrical operations, will now report to Mr. Cavanagh.
Shell’s departure comes at a critical time for NBCUniversal and Comcast. The company’s Peacock streaming service has made strides, but is still much smaller than services backed by industry rivals. In the fourth quarter, Peacock surpassed 20 million paid customers but lost nearly $1 billion on an adjusted basis, the company said.
Meanwhile, the cable TV business—long a profit engine—continues to erode from cord-cutting, as is the case across the media landscape. NBCUniversal owns networks such as Bravo, E! and USA, along with news channel MSNBC.
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