Bob Wright Says NBC's Record Year Is Due To Sports Pullback

NBC Chair & CEO Bob Wright Says Rights Deal Brings Prestige

NBC Chair & CEO Bob Wright said at the Electrical Equipment and Multi-Industry Conference sponsored by Bank of America Securities that NBC's earnings will increase by 18% this year and operating cash flow by 30%, according to Jesse Hiestand of the HOLLYWOOD REPORTER. Wright: "A good deal of that strength has come from the fact that we have exited from a lot of sports." Wright, on GE/NBC's $2.2B deal for the U.S. TV rights to the 2010 and 2012 Olympics: "People ask 'How can you afford that?' We've been doing it long enough that for us it's economically acceptable. It's not a loss-leader, (and) it does not make a lot of money, but it gives us a tremendous amount of prestige, generates enormous ratings and huge promotional capabilities" (HOLLYWOOD REPORTER, 8/4).