Exec Shuffle At NBCUniversal; Pay Cuts Now, Layoffs Possible

(ATR) NBC Sports chair Mark Lazarus will oversee all streaming properties for NBCUniversal--including the much-ballyhooed Peacock platform.

Lazarus was named Chairman, NBCUniversal Television and Streaming last week as part of an organizational shuffle. In his new role, Lazarus will continue to oversee NBC Sports Group and the network’s affiliates with the additional responsibilities of aligning NBCUniversal’s networks and streaming properties.

Peacock, NBCUniversal’s streaming service, is scheduled to launch July 15. The platform will eventually be the streaming home for NBC’s programs and some of it’s Olympic and sports coverage.

Lazarus started as NBC Sports Group Chairman in 2011. He will report directly to NBCUniversal CEO Jeff Shell.

In a statement to Deadspin, Shell said: "Mark has a proven trackrecord across every aspect of our television business from sports to local stations to entertainment. He is the ideal leader to oversee our television and streaming portfolio in this newly formed division, which allows us to have a more unified approach to our content strategy."

The Los Angeles Times reports that Shell told NBCUniversal employees their paychecks will be a little lighter, due to the economic halt caused by Covid-19.

Fifteen of the highest-level executives will receive a 20-percent pay cut with other executives facing a three-percent reduction. Employees making less than $100,000 or theme park employees are not impacted by the June 3 pay cut.

Shell told investors on an earnings conference call that the broadcaster was considering laying off some of its 60,000-plus workforce.

"Given where the environment is headed ... and we’re addressing that pretty aggressively," Shell was quoted as saying by The Los Angeles Times.

NBC Universal had been expecting a big summer with the Tokyo 2020 Olympics. More than $1 billion in advertising sales had been booked when the IOC decided to move the Games to July 2021.

No word yet from NBC on how it will handle the one year mark to the postponed Games, a milestone commemorated 10 months ago.

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