Comcast's NBCUniversal Vice Chair Meyer Steps Down Over Affair

Ron Meyer, vice chairman of Comcast’s NBCUniversal studio, stepped down after he said he paid a settlement to a woman after they had an affair.
Author:
Publish date:

Ron Meyer, vice chairman of Comcast’s  (CMCSA) - Get Report NBCUniversal studio, left his job after saying that he paid a settlement to a woman after they had an extramarital affair.

Meyer “acted in a manner which we believe is not consistent with our company policies or values,” NBCUniversal Chief Executive Jeff Shell said in a statement.

Meyer said in a statement that he had a short dalliance with the woman years ago.

“I made this disclosure because other parties learned of the settlement and have continuously attempted to extort me into paying them money or else they intended to falsely implicate NBCUniversal, which had nothing to do with this matter, and to publish false allegations about me,” Meyer said in a statement.

He worked at NBCUniversal for 25 years.

Morningstar analyst Michael Hodel offered Comcast praise last week.

This year "is far from a normal year and seasonal swings have likely steadily diminished with the rise of online content options," he wrote in a report.

But "the sequential improvement amid the worst of the pandemic and sports shutdown provides some evidence supporting our view that the industry isn’t headed for a customer death spiral, a key element of our fair-value estimates and moat ratings across much of the media sector, including … Comcast."

Hodel puts Comcast’s fair value at $47. The stock recently traded little changed at $43.51. It has eased 3% this year, compared with a 5% increase for the S&P 500.