NBC Cuts $500 Million

Amanda Carpenter | October 20, 2008 9:17 AM

NBC CEO Jeff Zucker recently sent a memo to all his employees warning them he was going to be cutting half a billion from next year's budget. It said:

"all of our business leaders are being asked to cut their spending projections for 2009. We are asking for a reduction of approximately $500 million across the company, which represents about 3% of our overall budget. While each business leader has flexibility in how to meet this goal, we have asked them to focus on three areas: reductions in promotion expenses; in discretionary spending, such as travel and entertainment and outside consultants; and in staffing costs."

If NBC wants to start making more money, maybe their producers had better start crossing their fingers for a McCain-Palin win next month. Palin's appearance last Saturday helped Saturday Night Live hit their highest number of viewers in 14 years.