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I found an interesting article in this morning's New York Post examining the poor performance of NBC Universal's Universal Studios of late. In fact, Jeff Zucker of NBC -- a part of General Electric (NYSE: GE) -- is "so concerned" about the unit's performance that he sent his chief financial officer to Hollywood for a month in order to "get more educated on the studio." Before I give my opinion on how to fix the studio (and you know I have one), let's take a look at how good the year has been.
Will Ferrell's Land of the Lost cost $100 million to make, but it brought in $44 million through last Friday. It is this catastrophic flop that caught the attention of Zucker and has him wanting answers from studio boss Ron Meyer. A source noted, "It's really the first time [Zucker] is asking Ron to explain things," as Meyer basically had free rein to run the studio. Zucker now wants to know Meyer's process for greenlighting movies and determining production and marketing budgets.
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