If you’ve ever listened to Time Warner chief executive Jeffrey Bewkes speak, you’ll be used to his breezy, languid style. But he sounded even more so than usual on Friday at a conference in Washington D.C. when asked about the big media story of the year so far: Comcast’s bid to take control of NBC Universal.
What’s going to happen to MGM?
On Tuesday, the Hollywood studio announced it was replacing its chief executive Harry Sloan with a team that includes a turnaround expert. It’s a well-known fact that MGM, which is owned by private equity firms and Comcast, has struggled with a massive debt load. It has payments due on $3.7 billion of debt and the future isn’t looking too good, given the down market and shrinking DVD demand.
Comcast is cutting the price of its super fast 50 megabits Internet access service to $116.95 a month in most markets, less than year after launching the service at $139.95.
With the end of the economic meltdown so tantalizingly close, and stock markets pricing in the spring thaw, The Consumerist’s annual Worst Company in America competition is just the tonic DealZone readers need to keep their prized sense of perspective appropriately tickled.
While we were at The Cable Show last week, Comcast filed a documents with securities regulators detailing its 2008 executive compensation. The filing showed that Chief Executive Brian Roberts received $23.7 million in 2008 up from $20.8 million in 2007 but below his 2006 payout of $26 million.
The U.S. Federal Communications Commission today ordered the largest U.S. cable TV operator Comcast Corp to change how it manages its broadband network. The regulator concluded that some of Comcast’s tactics unreasonably restrict Internet users who share movies and other material.