Comcast Looks to Cut Up to $1 Billion From Budgets at Its TV Networks
- Media giant wants to boost its Peacock streaming service
- NBCUniversal may soon join in Hollywood’s new frugality
The Comcast and NBC Universal building in Universal City.
Photographer: Dania Maxwell/Los Angeles Times/Getty ImagesThis article is for subscribers only.
Comcast Corp. is looking to cut as much as $1 billion from the budget of the TV networks in its entertainment division, NBCUniversal, money it can use to boost other parts of the business, according to people familiar with the company’s plans.
NBCUniversal Chief Executive Officer Jeff Shell has asked his top deputies to find savings at its legacy cable and broadcast TV networks, said the people, who asked not to be identified because the plans haven’t been finalized. Executives have explored many ways of cutting costs -- including layoffs, trimming budgets for the development of new programs and changing the mix of programs on TV to produce more low-cost shows.