The Philadelphia-based cable TV giant on Friday said it has extended Burke's employment contract for five years and provided him with a nearly 20% bump in base salary to $2.6 million, up from $2.2 million, effective Sept. 1.
Comcast cited Burke's efforts to sharpen NBCUniversal's business strategy, including making beneficial acquisitions and dramatically improving the company's financial performance, as reasons to renew his contract.
Burke's previous deal was set to expire next year.
As part of the renewal, the 55-year-old Burke will receive a $5-million signing bonus, according to a filing with the
Burke's annual bonus will continue to be calculated using the same formula as before, with an eligible award of up to 300% of his base salary.
Comcast wholly owns NBCUniversal. The cable company bought
In Friday's regulatory filing, Comcast praised Burke for "outstanding work in integrating NBCUniversal and its businesses into the company (both organizationally and culturally), and making extraordinary progress in improving NBCUniversal's businesses and results."
Burke has reorganized NBCUniversal's executive ranks and streamlined business units. He oversaw the divestiture of the company's stake in the A&E Television networks and NBCUniversal's acquisition of the 50% stake of the
Key business units, including the
Last year, Burke received compensation valued at $26.3 million, an increase of 11.3% over the year before.