NBCUniversal content distribution chief Matt Bond is stepping down after more than 20 years at NBCU and Comcast.
"In the spirit of a high-profile departure, I have decided that now is the best time for me to retire professionally and personally," Bond wrote in a memo to NBCU employees on Wednesday. "However, the company has asked me to serve in a new role for the next few years. Counselor, I agree."
Bond's exit comes as NBCU is spinning off most of its cable network and other operations to SpinCo, a public entity separate from Comcast. The transaction is expected to close later in 2025.
Bond said he and NBCU content distribution president Matt Schnares "are committed to the transition," and that they are working closely with NBCUniversal Media Group's newly appointed chairman Matt Strauss "to discuss our How teams adapt to new media” group structure. As we work through the details, we'll be sure to share them with you. "
As chairman of content distribution for NBCUniversal, Bond has been responsible for overseeing distribution agreements for all content for multi-channel video providers and new media distributors, including distribution for NBCU's linear cable and broadcast networks, NBC-owned radio signals and TV Everywhere, video . On-demand film and television products.
Prior to joining NBCU, Bond was executive vice president of content acquisitions for Comcast Cable, where he oversaw the strategic direction of the company's content portfolio, including negotiating programming agreements for all Comcast cable systems. Bond also led content acquisitions for new media rights and strategic multi-platform initiatives, including On Demand Online, and oversaw the launch of XfinityTV.com.
Read Bond's memo to NBCU employees:
Hello everyone,
Happy New Year.
First, I want to congratulate all of you on your work during this epic trading cycle of 2023 and 2024. The 17 deals come at a critical time for NBCUniversal, covering the intersection of streaming and linear cable and the creation of new packaging paradigms. We exceeded all financial goals while leaving the flexibility for Peacock to grow. As we have done every year for the past 13 years, we achieved this without any allocation disruptions. NBCUniversal has never been in better shape on the distribution front.
In the spirit of leaving my job on a high note, I have decided that now is the perfect time for me to retire professionally and personally. However, the company asked me to serve as a consultant for the next few years and I agreed. As many of you know, I've been thinking about this issue for a long time, weighing my own personal challenges. But, as Lisa always tells me, "You always want to leave when the party is going well."
Matt Schnaars and I will be making the transition, and we are working closely with Matt Strauss on how our team will fit into the new media group structure. As we work through the details, we'll be sure to share them with you.
I'm grateful and honored to have been a part of the Comcast NBCUniversal family for more than 20 years. When I came to Comcast in 2002, I never looked for another job. Comcast is a wonderful family that cares about all of its employees, an attitude that starts with Brian and continues throughout the organization. I have always been treated better than I expected or deserved by the company.
I'm also lucky to work with all of you - some of the brightest and most capable people in the industry. Along with many of you, we have witnessed many changes in the television industry, and we will see many more. But people love the content we produce, and with new technology expanding the reach of our content, the future looks incredibly bright. Through it all, our team has remained agile, finding ways to navigate this change, add value to NBCU, and in the process build a truly unparalleled reputation for success among our industry peers. I know this job isn't easy - it's the culmination of thousands of hours late at night (often on weekends and holidays).
I'm incredibly proud of the work everyone has done over the past decade. This is truly a remarkable achievement. We have a small team and everyone is critical to the overall success. To paraphrase Winston Churchill, it is not often that so many owe so much to so few.
I won't be going too far and look forward to continuing to work with you all in my new capacity.
Thank you for everything.
Matt