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To: NBC Employees
From: Bob Wright
Mon Dec 15 2003 15:48:13 ET

Today we are announcing a realignment of our operations as part of our efforts to maximize our efficiency, especially as we look to the challenges ahead with the pending Universal merger and integration. Jeff Zucker is taking on oversight responsibility for NBC News and its cable channel MSNBC as well as CNBC. Randy Falco is adding the Telemundo Network to his slate of responsibilities, while Jay Ireland is assuming direct responsibility for the Telemundo Stations Division. Jay will be working closely with Don Browne, COO of Telemundo, to ensure that we optimize the combined strengths of the Telemundo and NBC stations.

Jeff, Randy, and Jay have each demonstrated strong leadership in their respective positions and will be playing significant roles in our success moving forward. Please join me in congratulating them on their expanded assignments. Below is the announcement that we are releasing to the press.


NEW YORK, December 15, 2003 - In order to capitalize on NBC's operational strengths and better position NBC for the pending Universal merger, Bob Wright, Vice Chairman of GE and Chairman and CEO of NBC, announced several leadership changes, to be effective immediately:

� NBC Entertainment President Jeff Zucker has been named to the newly created position of President, Entertainment, News and Cable Group. Zucker will continue to oversee NBC Entertainment and Bravo as well as Telemundo primetime programming, and will assume oversight responsibility for NBC News and its cable channel MSNBC as well as CNBC. An 18-year veteran of NBC, Zucker has served as President of NBC Entertainment since December 2000.

� Randy Falco, Group President, NBC Television Network, will assume responsibility for the Telemundo Network, one of NBC's key growth platforms. This responsibility is in addition to Falco's current role leading the company's commercial, operational, and business-development organizations. Falco joined NBC in 1975, and assumed his current role in January 2003.

� Jay Ireland, President of the NBC Television Stations Division, will assume responsibility for the 15 owned-and-operated Telemundo stations, in addition to his current role leading the 14 NBC owned-and-operated stations. Ireland joined NBC in his current role in November 1999.

Wright said: "Our pending merger with Universal will make us a larger, more diversified media company, and it is imperative that we position ourselves to achieve the best possible results. This organizational alignment will allow us to take full advantage of our leadership team's experience and creativity.

"Jeff has demonstrated strong leadership running our Entertainment division and during his long tenure at the Today show. Randy has led NBC to a record-breaking upfront performance each of the past two years and has played an essential role in virtually every major business success we've had. Jay has skillfully driven growth in his division since assuming leadership of the stations group four years ago. These three experienced leaders will play key roles in our success moving forward."

Zucker, Falco, and Ireland will all continue to report directly to Wright. The three executives have been responsible for many of the network's key accomplishments during recent years. Under Zucker's leadership, NBC has consistently been the top-rated network in the key adult 18-49 demographic. During the 2001-02 season, he led NBC to one of the strongest primetime victories in history, and in the past two seasons, NBC's primetime, late-night and daytime lineups all finished first, an accomplishment unprecedented in network broadcasting history. Among Falco's many accomplishments, he guided the network's commercial operations to a record-breaking $3 billion upfront sales season this spring and has played a key role in negotiating the contracts covering each of the eight Olympics which have been or will be broadcast on NBC from 1996 through 2012. In addition, he has a key role in the planned merger with Universal. Under Ireland, NBC's stations group garners the highest profit margins of any network stations organization and has driven growth by successfully capturing sales from other media segments.

The nation's first broadcast network, NBC has evolved into a diverse, international media company. In addition to the NBC Television Network and 14 NBC television stations, the company owns CNBC and Bravo, operates MSNBC in partnership with Microsoft, and maintains interests in a number of programming services, including the A&E Network, the History Channel, ValueVision, Inc. (ShopNBC), and Paxson Communications. In addition, NBC operates Telemundo, the nation's second-largest Spanish-language media company. International holdings include CNBC Europe and CNBC Asia Pacific, which are services of NBC and Dow Jones, and an equity position in National Geographic Channels International.

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