Matt Bond, head of content distribution for NBCUniversal, is stepping down from his post after more than 20 years at NBCU and Comcast.
“In the spirit of leaving on a high note, I have decided that it is the right time professionally and personally for me to retire,” Bond wrote in a memo to NBCU staffers Wednesday. “However, the company has asked me to serve in an advisory role for the next few years, and I have agreed to do so.”
Bond’s exit comes as NBCU has set plans to carve off a chunk of its cable networks and other businesses into SpinCo, a separate public entity from Comcast. That transaction is expected to be completed by the end of 2025.
Bond said he and NBCU president of content distribution Matt Schnaars “will be working through a transition,” and that they are working closely with Matt Strauss, newly appointed chairman of the NBCUniversal Media Group, “on how our team will fit into the new Media Group structure. As we work through those details, we will certainly share them with you.”
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Post-spin, NBCUniversal will comprise the NBC broadcast network and stations, the Peacock streaming service, Bravo (the reality TV powerhouse seen as a key to Peacock’s success), NBC News Group, NBC Sports, Telemundo, the Universal theme parks and resorts, and NBCU’s film and television studios. SpinCo, which will include CNBC, MSNBC, USA Network, Oxygen, E!, and other properties, is being led by CEO Mark Lazarus, who was previously chairman of NBCUniversal Media Group.
Bond, as chairman of content distribution for NBCUniversal, has been responsible for overseeing distribution agreements for all content by multichannel video providers and new media distributors, including distribution of NBCU’s linear cable and broadcast networks, NBC-owned station signals, and TV Everywhere, video on demand film and TV products.
Before joining NBCU, Bond was executive VP of content acquisition for Comcast Cable, where he was responsible for overseeing the strategic direction of the operator’s content portfolio, including the negotiation of programming agreements for all Comcast cable systems. Bond also led content acquisition for new media rights and strategic multiplatform initiatives, including On Demand Online, and oversaw the launch of XfinityTV.com.
Read Bond’s memo to NBCU staff:
Hi everyone,
Happy New Year.
First, I want to congratulate you all for your work in this epic deal cycle through 2023 and 2024. These 17 deals were accomplished at a pivotal moment for NBCUniversal, spanning the intersection of streaming and linear cable and the creation of new packaging paradigms. We exceeded all our financial objectives while leaving flexibility for the growth of Peacock. As we’ve done every year for the last 13 years, we achieved this without a single distribution dislocation. NBCUniversal has never been in better condition with respect to distribution.
In the spirit of leaving on a high note, I have decided that it is the right time professionally and personally for me to retire. However, the company has asked me to serve in an advisory role for the next few years, and I have agreed to do so. As many of you know, I have been considering this for a long time, weighing my own personal challenges. But, as Lisa always told me, “You always want to leave just as the party is getting good.”
Matt Schnaars and I will be working through a 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 those details, we will certainly share them with you.
I could not be more grateful and honored to have been part of the Comcast NBCUniversal family for over 20 years. Once I came to Comcast in 2002, I never once looked for another job. Comcast is a wonderful family that cares about all its people, and that attitude starts with Brian and goes through the whole organization. The company has always treated me better than I expected or deserved.
I also feel blessed to have worked with all of you – the smartest and most capable people in the industry. Together with many of you, we’ve seen many changes in the television business, and we will see many more. But people love the content we produce, and the future looks exceptionally bright as new technologies expand the reach of our content. Through all of this, our team has remained nimble and found ways to navigate this change in a way that added value to NBCU, building a truly unparalleled reputation for success amongst our industry peers in the process. And I know this work doesn’t come easy – it’s the result of thousands of hours of late nights, often over weekends and holidays.
I couldn’t be prouder of the work that everyone has done over the last decade. It truly is a remarkable accomplishment. We have a small team, every one of whom is crucial to success of the whole. To paraphrase Winston Churchill, it’s not often so many owe so much to so few.
I won’t be going far and look forward to continuing to work with you all in my new capacity.
Thank you for everything.
Matt