NBC DIVISION GIVES BOOST TO GE QUARTER STRONG RATINGS, SALES HELP.Byline: Greg Hernandez Staff Writer Big ratings for the 2004 Summer Olympics and strong DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. sales for the newly merged NBC/Universal division made for a strong contribution to parent company General Electric's third-quarter earnings, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. results released Friday. The division reported operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $536 million on $4 billion in revenue during its first full quarter since GE merged the former entertainment assets of Vivendi Universal with NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. in May. The company expects NBC/Universal revenues of $12 billion for the full fiscal year and a rise to $15 billion in 2005. Media analyst Lawrence J. Horan of Parker Hunter Inc. said that judging from the earnings reported, the media merger looks promising so far. ``They did say that $55 million in synergy came in the quarter,'' Horan said. ``In a company the size of GE, $55 million, if they could sustain that for several quarters, it could be meaningful.'' NBC/Universal is now composed of such distribution and programming assets as the NBC broadcast network, Universal Pictures film studio, several cable channels including USA and Bravo, five theme parks, and a 5,000-title film library. Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. analyst Deane M. Dray wrote in a note issued prior to the release of the earnings Friday that NBC/Universal is ``successfully transitioning from a more television-centric media company to a well-positioned, broader-reaching entertainment content provider, with leadership in development, production and marketing globally.'' GE Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jeff Immelt said NBC/Universal ``made excellent progress'' integrating the Vivendi Universal acquisition particularly when it came to broadcasting the Summer Olympics from Athens, Greece, with unprecedented 24-hour-a-day coverage. ``NBC/Universal made full use of its new cable networks and produced a terrific Olympics broadcast watched by more than 200 million Americans,'' Immelt said. Other highlights included: --Record ratings for the 2003-04 season of the ``Today'' morning show and continued ratings dominance in late-night television with Jay Leno Jay Leno (born April 28, 1950) is an Emmy-winning American comedian, writer who is best known as the current host of NBC television's long-running variety and talk program The Tonight Show. Biography Leno was born in New Rochelle, New York. and Conan O'Brien. --Prime-time viewership of the MSNBC MSNBC Microsoft/National Broadcasting Company cable channel was up by 55 percent over the 2003 third quarter, representing faster growth than any other cable channel during the quarter. --Double-digit ratings growth for all of NBC/Universal's entertainment cable networks: Bravo, USA and Sci-Fi. The company also trumpeted the $230 million in worldwide grosses for Universal Pictures' ``The Bourne Bourne, town (1990 pop. 16,064), Barnstable co., SE Mass., crossed by Cape Cod Canal; settled 1627, inc. 1884. Bourne Bridge (1935), across the canal, made the town an entry point to Cape Cod and a resort and commercial center. Supremacy,'' which was one of the summer's highest-grossing films; and the 1.5 million DVD units shipped during of the first week of release for the Jim Carrey drama ``Eternal Sunshine of the Spotless Mind.'' GE owns 80 percent of NBC/Universal, with Vivendi Universal having 20 percent ownership interest. Universal Music Group, the world's largest music company, was not part of the merger and was kept by Vivendi. Greg Hernandez, (818) 713-3758 greg.hernandez(at)dailynews.com |
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