Stephen ‘Steve’ Burke, president and chief executive officer of NBCUniversal.
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NBCUniversal CEO Steve Burke plans to step down when his contract expires in August, a person familiar with the situation said Friday.
Variety first reported Thursday that Burke would step down and that Jeff Shell, chairman of NBCUniversal Film and Entertainment, would become CEO and split his time between New York and Los Angeles. CNBC has not confirmed that Shell will succeed Burke.
NBCUniversal, parent company of CNBC, declined to comment.
Burke, 61, has been CEO of NBCUniversal since Comcast closed its acquisition of the company in 2011.
Burke is preparing to launch a major new digital initiative for NBCUniversal — Peacock, the company’s streaming service that will compete with Netflix, Disney+, Apple TV+, AT&T‘s HBO Max and many more.
An ad-supported version of Peacock will be free for everyone, and there will be an option to pay a monthly subscription to watch without ads, CNBC reported in November. The company is expected to reveal the final details of Peacock at an investor event on Jan. 16 .
Disclosure: NBCUniversal, which is owned by Comcast, is the parent company of CNBC.