Focus on Entertainment : Spotlight: General Electric Co.
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General Electric posted a 7% increase in earnings in 1992 compared to a year ago; its entertainment subsidiary, NBC, posted a decline in earnings due in part to the popular but unprofitable 1992 Summer Olympics. After years in the No. 1 position in ratings, the network dropped to third for the 1992-93 season. Late last week, NBC Entertainment President Warren Littlefield unveiled NBC’s new fall lineup, which was greeted enthusiastically by the affiliates at the convention in Orlando, Fla.
Major Properties * Broadcast TV: 211 affiliates; six owned and operated stations * Cable TV: CNBC; equity positions in A&E;, Court TV, American Movie Classics, Sports Channel America * Financial services: GE Mastercard * Commercial market: Aerospace electronics, aircraft engines, medical equipment, transportation systems
Financial Data * Market capitalization: $80 billion * Cash: $1.2 billion * Long-term debt: $25.4 billion * 1992 revenue: $57.1 billion * 1992 profit: $4.7 billion * Earnings per share: $5.51 * Dividend: $2.32
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