- NBCUniversal CEO Jeff Shell said on Thursday that he tested positive for COVID-19, the disease caused by the coronavirus.
- The newly appointed chief executive revealed his diagnosis to staffers in a memo that emphasized the importance of working from home to limit the spread of the virus.
- Shell, who stepped into the CEO role in January, has been steering the company through myriad obstacles caused by coronavirus concerns, including theme-park closures, the postponement of the 2020 Summer Olympics, film delays, and studio production shutdowns.
- Despite those hurdles, UBS analysts said Comcast, which owns NBCUniversal, is less exposed than some media peers like Disney because of the telecom’s vast broadband business.
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NBCUniversal CEO Jeff Shell said on Thursday that he’d tested positive for COVID-19, the disease caused by the coronavirus, in a memo sent to staff.
The newly appointed chief executive revealed his diagnoses to staffers in the third paragraph of a memo that emphasized the importance of working from home to limit the spread of the virus. Shell also said in the memo that he had been working remotely.
“The other reason to work from home is that in the event you contract the virus, it will limit the number of your colleagues you inadvertently expose,” Shell wrote. “As some of you now know, I myself am in this category. I recently have been feeling under the weather and just learned that I have tested positive for Covid-19. Although the virus has been tough to cope with, I have managed to work remotely in LA and am improving every day.”
Shell stepped into the CEO role in January, after leading NBCUniversal’s filmed-entertainment group.
He is now steering the company as it copes with theme parks closures, theatrical release delays, studio production shutdowns, advertising declines, and the loss of live sport events, including the postponed 2020 Summer Olympics, caused by coronavirus concerns.
He's also one of the leaders overseeing the development of NBCUniversal's big streaming play, which is slated to launch on April 15 to select Comcast customers. Despite those hurdles, UBS analysts say Comcast, which owns NBCUniversal, is less exposed than some other media conglomerates like Disney, which are facing many of the same issues. Comcast's vast broadband business in the US is thought to make it more stable than others in the media sector.
The full text of the memo sent to NBCUniversal staffers follows:
It's hard to believe my last note to you was just two weeks ago. I know many of you share the feeling that lately each day feels like a week! We will all get through this difficult time together, but as we start to settle into our new normal, I find it helpful to think about things in two buckets: the short term, and what comes after.
In the short term, the goals are simple. Take care of each other and take care of our viewers. Taking care of each other means working from home. Many of you, like me, are working from home while trying to balance family commitments and other challenges, and I know this isn't easy. But for those of you who can do your jobs from home, it is absolutely critical that you do so. This will be the case for some time. While I can't give you an end date, I can commit that we will give everyone ample warning before we ask you to return to the office.
The other reason to work from home is that in the event you contract the virus, it will limit the number of your colleagues you inadvertently expose. As some of you now know, I myself am in this category. I recently have been feeling under the weather and just learned that I have tested positive for Covid-19. Although the virus has been tough to cope with, I have managed to work remotely in LA and am improving every day.
Unfortunately, one of our colleagues was not able to recover from the virus. Last week we learned Larry Edgeworth, a beloved audio technician at NBC News, passed away, and our hearts go out to his family, friends and co-workers.
Given the vital public service role of NBC News, MSNBC, CNBC, Telemundo and our local stations, many of our colleagues need to go into the office so we can tell the world what is going on. Their courage has been an inspiration and has made us all proud to work at this company. I want to thank this group for their dedication and commitment. I also want to commend our Operations and Technology group, which has seamlessly kept us on the air and enabled us to work remotely under challenging circumstances.
From morning to late night, our talent and news anchors have also been doing their part to inform and entertain from their homes. From Savannah reporting from her basement and Al doing the weather from his living room to Jimmy performing his monologue on his front steps and Seth hosting his new segment, A Closer Look, from home to Maria Celeste hosting Al Rojo Vivo from her dining room, and many CNBC, local stations and E! News correspondents reporting from home as well - we continue to deliver the best in live news and entertainment, despite the circumstances.
Additionally, to disseminate our news as widely as possible, we have made MSNBC and CNBC available to all video customers, regardless of their subscription package. Plus, our streaming service NBC News Now has expanded its coverage and our local stations are also streaming their newscasts.
Obviously, most of our business is not operating normally. Our theme parks are temporarily closed. Our sports productions are paused, and the 2020 Tokyo Olympics has been postponed. And most of our film and TV production around the world has been suspended. We are working to resume these activities as soon as possible, but of course not until it is safe to do so. In the meantime, we recognize that a sudden halt to production creates a significant financial hardship for many. To that end, we have committed over $150 million across our film, television and parks businesses to help our employees and other workers, and to at least partially bridge the period before normal operations can restart.
Despite these production challenges, the company has done a great job finding innovative ways to deliver content to our audiences at a time when people are at home and are looking for entertainment more than ever. On the film side, we announced our movies will be available in the home on the same day as their global theatrical releases. Titles including The Hunt, The Invisible Man and Emma are now available to rent on most popular on-demand services worldwide. Our tentpole animated film from DreamWorks Animation, Trolls World Tour, will be available April 10th and I hope many of you will have time to enjoy it at home with your families.
So here is the good news...while the short term is challenging, what comes after looks incredibly bright. Our parent company Comcast is strong and is doing a great job keeping a large part of this country connected. And when we think ahead to 2021, we have a lot to look forward to. The virus will pass, our world will return to normal, and when it does, we will be poised to have one of the busiest and most exciting years in our company's history.
2021 will bring the opening of a new theme park in Beijing, followed by the Tokyo Olympics (followed in early 2022 by another Olympics, a Super Bowl and the World Cup!). We will have the return of our tentpole films like F9 and Minions: The Rise Of Gru, and an avalanche of new TV shows. And all of this will serve to supercharge our critically important Peacock streaming service, which will launch as planned this year while people are home, and then use promotion like the world has never seen in 2021 to grow. The present may be challenging, but it is impossible not to feel optimistic about the future.
In the meantime, please continue to take care of yourselves. I recognize how challenging these times are for everyone - both professionally and personally - and appreciate all that you do for this company.
Sincerely,
Jeff Shell Chief Executive Officer
For more on how the coronavirus is affecting media, see our coverage on BI Prime:
- Analysts lay out the financial damage each of Disney's businesses could face, as it closes parks and postpones films due to the coronavirus: Disney is one of the media companies most exposed the impact of the coronavirus because of its large theme park and theatrical businesses.
- Why analysts say Disney and Discovery are the media giants most threatened by the coronavirus, but Comcast could fare better: Companies that generate significant shares of their revenue from theme parks, films, and advertising are most sensitive to the pandemic, and a potential economic downturn it could ignite.
- Sports-betting insiders say companies are in 'triage mode,' cutting costs and getting creative to keep fans interested until live sports return: The coronavirus pandemic has hit sports betting and media companies hard, as major sporting events including the NBA season and March Madness were suspended or canceled.
- Why Netflix's business could take a hit from the coronavirus, despite reports that 'stay at home' stocks could benefit: Much of Netflix's revenue growth is international, including markets like Europe and Asia, which are especially vulnerable to the virus.
- Disney's surprise CEO change makes sense because of the coronavirus' growing impact on its business, according to a Wall Street analyst: The day-to-day pressures of the Disney CEO may mount if the coronavirus continues to spread outside of China, drawing former chief Bob Iger's focus at a crucial creative moment.