- April 25, 2023
- 5 minutes read
NBCUniversal Boss Jeff Shell Resigns Over ‘Inappropriate Relationship’
Jeff Shell, chief executive of mass media giant NBCUniversal, has lost his position following an investigation into alleged inappropriate conduct.…
Jeff Shell, chief executive of mass media giant NBCUniversal, has lost his position following an investigation into alleged inappropriate conduct. Shell “had an inappropriate relationship with a woman in the company” and agreed to step down immediately, NBCUniversal parent company Comcast (NASDAQ: CMCSA) announced on Sunday.
Shell was appointed chief executive at NBCUniversal in 2020. He worked at Comcast for nearly two decades, becoming the head of one of the company’s biggest divisions. That storied career has been nicked over an inappropriate relationship with a colleague, a familiar occurrence with media moguls.
- Last year, Jeff Zucker, chief executive of CNN, resigned for failing to disclose a relationship with a female colleague.
- In 2020, NBCUniversal vice chairman Ron Meyer stepped down after revealing an affair and private settlement with a woman.
- In 2019, Warner Bros Chairman Kevin Tsujihara resigned following a report that he improperly helped an actress obtain movie roles.
- In 2018, Les Moonves, chief executive of CBS Broadcasting, stepped down after several allegations of sexual misconduct.
- In 2016, Fox News boss Roger Ailes stepped down after allegations of sexual harassment.
Don’t cry for Shell though, as he won’t be begging for a job soon. Filings indicate that he earned a total compensation of $38mn in 2020 and 2021. His 2022 pay package hasn’t been revealed, but it’s likely a similarly sized one.
Shell oversaw NBCUniversal’s broad portfolio of media businesses, including the Universal film production and distribution powerhouse, Universal’s theme parks, and the Peacock video streaming service.
- Peacock surpassed 20 million subscribers in 2022. It brought in $2.1bn in revenue in 2022, with a net loss of $978mn. The streaming service relies on advertising and subscriptions for revenue, though more on the former. NBCUniversal expects Peacock’s losses to peak at $3bn this year as it invests heavily in content licensing and production.
- Comcast hasn’t named a successor to Shell’s vacated position.
“I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege,” Shell said in a statement.