Tuesday, December 9, 2008

NBC restructures TV divisions in bid to beat slump

LOS ANGELES (Reuters) – NBC, currently in last place among major U.S. television networks, said on Monday it is merging two divisions responsible for making TV shows in a bid to cut costs during the economic crunch.

NBC said the restructuring would streamline the creative process and create a more viable business model in the fast- changing TV business. Financial details were not disclosed.

"The move we are making today is in response to not only the current financial environment, but to the inherent structural changes that are going on in the television industry," Marc Graboff, co-chairman of NBC Entertainment told journalists on a telephone conference call.

Graboff said the network, a unit of the NBC Universal media wing of General Electric Co, is trying to "right-size" itself for the marketplace and be more "talent-friendly" by streamlining creative decision-making.

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