Below our coverage of the Comcast-NBCU deal from Staci on Twitter as it unfolded this morning. Follow us on Twitter for continuous updates @paidContent here.
» unlike most mergers, Comcast’s Burke says this one has very little cost reduction built in, 99.9% of employees don’t overlap.
» Zucker on Hulu: We don’t want to talk about the Hulu product road map, obviously (subscription/premium) something we’re looking at
» Burke on Hulu: when he said premium not in the cards, says he meant not in Comcast’s hands now. “We have no grand plans”
» Burke: Idea we’re going to somehow take on ESPN (NYSE: DIS) is ‘overly simplistic’ ; Zucker on Olympics: imp. asset, we’ll take a hard look at ’14-’16
» Comcast’s Burke and Roberts trying to fend off comps to failed ‘synergy’ deals. Burke says look at TWX-Turner, Disney-ABC, NBC-Uni
» Roberts: Our cable programming biz was subscale, by combining we achieve scale in one transaction. will continue to be 80% cable ops
Roberts Burke says premium hulu not in the cards, sounds like CMCSA wants to keep hulu free. NBCU only owns 27% though, can be overruled.
» Burke: Hulu, TV Everywhere complementary. lots of broadcast content free on hulu after deal, cable content people pay for on TVE.
» Comcast’s Brian Roberts doesn’t “anticipate or desire” any divestitures as part of the NBCU deal.
» Burke: “In our mind content and distribution go together naturally.” not everyone agrees, look forward to proving it.
» Comcast’s Burke: our cable nets don’t make much money, NBC’Us touch should help. as will the better mix of national and local sports
» Why does Zucker get to stay? Not his programming skills — it’s the cable acqs/performance. He’s being graded on the whole, not NBC.
» Brian Roberts: believe we’re buying at or near the bottom of the cycle, should benefit from rebound but not factored into estimates.