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A Bit Of Good News For GE (GE); NBC Gets $206 Million For Super Bowl
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GE (GE) is faced with a potential downgrade of its debt from "Aaa" status and angry investors who want to know why the company insists on having a TV network and medical supply company under the same corporate roof.
GE’s shares are now down to $12, off almost 65% in the last year compared to a 34% drop in the DJIA.
GE got a bit of good news today. NBC will post impressive advertising revenue for the Super Bowl.
According to the AP, "NBC said on the eve of Sunday’s Super Bowl that the television network has sold the last two of the 67 advertising spots for the game, pushing total ad revenue for the event to a record $206 million." Impressive accomplishment in this kind of market.
If NBCU keeps up the good work, GE may decide to hang on to the entertainment unit indefinitely.
Cold comfort for GE shareholders.
Douglas A. McIntyre
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