General Electric Friday announced a restructuring which will reduce its six main operating divisions to four. Unaffected is NBC Universal, which will continue to be headed by Jeff Zucker. GE said its realignment focused the company on its core industries: Infrastructure, Finance and Media. GE Capital now aggregates all of the company’s financial services businesses. There are two infrastructure units: GE Technology Infrastructure and GE Energy Infrastructure. GE recently announced that it was considering a spin-off to shareholders of its appliance and industrial equipment unit.
RBR/TVBR observation: Wall Street keeps circulating rumors that GE will divest NBCU and GE executives keep saying it is not for sale. Once again, this restructuring restates CEO Jeff Immelt’s intent to stick with the media business.