rewarding NBCUniversal CEO Steve Burke with a contract extension, partly for his “outstanding work in integrating” the former General Electric business into the cable giant’s
operations. Burke’s contract now runs through Aug. 31, 2018.
His base salary goes up to $2.6 million, but his bonus opportunity stays at 300% of that base. The base salary raise is up
about $400,000 a year. Burke's total compensation package in 2012 was reported at over $26 million.
Burke is also eligible for a $5 million bonus, assuming Comcast’s operating cash
low for the 12-month period ending June 30, 2014 equals 101% of the operating cash flow of the period ending this past June 30.
The amended contract also includes provision making
contributions to Burke’s deferred compensation account of $3.5 million for 2014 and increasing annually by 5% through 2018.
Burke, a longtime Comcast executive with previous
experience at Disney, has headed NBCU since Comcast took control of it several years ago. He has divested the company’s interest in A&E Networks and overseen a move to integrate ad sales
across company properties.
In the recent second quarter, NBCU revenues increased 8.9% to nearly $6 billion, including a nearly 12% growth in broadcast TV