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Universal Studios President Meyer Signs Contract Extending Tenure to 2015

Universal Studios President Ron Meyer’s contract was renewed through 2015, six months after the maker of the “Fast and the Furious” movies became a unit of Comcast Corp. (CMCSA)

Meyer, 66, will also remain chief operating officer, NBC Universal said today in an e-mailed statement. His previous contract was set to expire at the end of 2012.

Universal is in second place in box-office sales in the U.S. and Canada this year with $789.1 million as of June 26, after finishing last among the major studios in 2010 and 2009, according to researcher Box Office Mojo. The revival has been led by hits including “Fast Five,” the fifth in the series about street racers, and the R-rated comedy “Bridesmaids.”

Meyer, whose responsibilities also include Universal’s theme parks, will report to NBC Universal Chief Executive Officer Steve Burke. Meyer has led the studio since 1995, after serving for 20 years as president and co-founder of Creative Artists Agency.

Philadelphia-based Comcast, the largest U.S. cable TV operator, paid about $13.8 billion in cash and assets for 51 percent of NBC Universal in a deal that closed in January.

Comcast rose 69 cents, or 3 percent, to $24.27 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have gained 10 percent this year.

To contact the reporters on this story: Michael White in Los Angeles at mwhite8@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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