Steve Burke is preparing to step down when his contract expires at the end of August
After eight years running NBCUniversal and serving as executive vp of parent company Comcast, , sources tellA spokesman for NBCUniversal declined comment. There has been speculation that Burke may take a fuller role at Berkshire Hathaway given his close ties to that company's 89-year-old chairman and CEO, Warren Buffett. That relationship goes back decades. In 1986, Burke's late father, Dan Burke, and business partner Tom Murphy pulled off the surprise purchase of ABC for $3.
But some say NBCUniversal under Burke was too slow to react to the streaming wars once Netflix popularized the concept and cable subscribers — Comcast's bread-and-butter business — began to decline due to "cord-cutting." NBCU even lagged behind legacy media competitors Disney and WarnerMedia in announcing a pivot to a mass-market streaming service.
At an annual management committee meeting in March in Orlando, both Shell and Lazarus presented in the wake of their promotions. While a company source says several other executives gave talks and the event was "not a bake-off," sources say Shell performed more smoothly on his feet than Lazarus — an important trait in the head of a media company.
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