The Latest Breaking News from Mike Cavanagh

Donna Langley, Mark Lazarus, Cesar Conde, Mark Woodbury to head business units

Shakeup comes ahead of Monday’s upfront presentation

’I’ll have to work harder,’ Comcast’s president said

Shell apologized for an "inappropriate relationship with a woman in the company," and said he was "truly sorry" for letting down colleagues.

In the latest sex scandal to shake Hollywood’s executive ranks, NBCUniversal Chief Executive Jeff Shell is stepping down after three years in the top job due to “an inappropriate relationship,” parent company Comcast Corp. announced Sunday.

'I had an inappropriate relationship with a woman in the company, which I deeply regret,' Jeff Shell concedes

Universal Orlando and Universal’s other theme parks continued to improve parent company Comcast’s earnings last quarter, but a top executive on Thursday nonetheless raised the possibility of layoffs and other cost-cutting across the company in preparation for a potential recession next year.

Comcast Corp. promoted Mike Cavanagh, a former Wall Street banker, to president of the Philadelphia telecom and entertainment company, the company said Wednesday. He is the first executive to hold the title outside the Roberts family.