NBCUniversal CEO Stephen Burke spoke at an investor conference and was brimming with confidence, thanks to the piles of cash he sees in the company’s near future, according to a report from Wells Fargo analyst Marci Ryvicker.
For starters, Burke was very pleased that NBC broke even bringing the 2012 Summer Olympics to America. That’s because the company fully expected to lose $200M on the games. He expects the network can do even better in the future, thanks to inflation adjustments built into its contract that will allow it to up its fees as time goes on.
NBC Television Network has famously struggled of late, but Burke believes that simply pulling it even with the other three majors can create upside of about $1B.
Retransmission consent is another area where the company expects growth – it is not currently a major revenue stream, but Burke believes it will continue to increase over time, and that eventually all four majors will be on par in this regard.
As for sharing the company with GE, Burke expects his company will start buying out its partner with major acquisition coming at the 3.5-year and 7-year anniversaries of the pact between the two companies.
