Big changes at NBC
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BRIAN WATT: Struggling NBC announced a new strategy today. It will put less money into news and prime time programming and more into new media. That will mean slashing 700 jobs and cutting $750 million in expenses. Marketplace's Dan Grech has more.
DAN GRECH: NBC Universal is calling its restructuring NBCU 2.0.
The Wall Street Journal reported today the network will stop scheduling dramas from 8 to 9 p.m., opting instead for game shows and other low-cost programming.
And even though NBC has the No. 1-rated news operation, it plans cutbacks there as well.
At the same time, the company will invest $150 million over the next two years in new digital projects.
Joe Jaffe is author of "Life After The Thirty Second Spot." He says the restructuring's a good move, but he also has this caution.
JOE JAFFE:"Don't lose focus of the core. Pursue those new business models and revenue streams. And also at the same time, focus on more efficient and effective ways of delivering advertising to you consumers through your cash cow, which is television."
I'm Dan Grech for Marketplace.