A Bit Of Good News For GE (GE); NBC Gets $206 Million For Super Bowl

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By Douglas A. McIntyre Updated Published
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Ge_largeGE (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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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