After we wrote about NBC’s spending cuts yesterday, we went down to check our mailbox. In it was our roommate’s Fortune, street date October 27, featuring the cover line “Is GE Okay?” (General Electric is, of course, the Peacock’s parent company.)
The story isn’t a new one the company’s stock has been in steady decline for a year, during which time its value has plummeted $200 billion but given the network’s news, we thought the timing was impressive (or, more likely, lucky).
The article, which isn’t online, offers some insight into the future of NBC: “Though the unit does depend on GE Capital [the part of the company that’s in serious financial trouble], it is lightly leveraged and generates lots of free cash flow. If GE faces another cash crunch, analysts say it could offload NBCU, albeit for less than they’d like.”