NBC Universal (NYSE: GE) will be one of four “segments” in the slimmed-down General Electric announced today after the market closed today. CEO Jeff Immelt, under fire for the company’s poor stock performance during his tenure, is downsizing from six to four “core” segments, creating “infrastructure” businesses for technology and energy and consolidating all financial services into GE Capital. GE already had announced a possible Consumer & Industrial spin-off. As for NBCU, it puts the “media” in Immelt’s definition of GE as “a global infrastructure, finance and media company.” From the release: “Led by Jeff Zucker this segment is unchanged and will continue to focus on its strategic evolution through globalization and diversification.”
Of course, Immelt could trim again by one-fourth with a sale of NBCU but he has insisted that’s not on the table.