Did GE CEO Jeff Immelt Order Keith Olbermann Demotion?

rumour has it that GE CEO Jeff Immelt personally ordered MSNBC to remove Keith Olbermann after a host of shareholder complaints—a charge NBC and Olbermann deny.

Whatever the reason, Olbermann was given a raise, which should ease the sting.

Page Six: NETWORK execs mollified the cantankerous Keith Olbermann as they demoted him by promising to sweeten his $4 million-a-year contract…

Olbermann told reporters he initiated the demotion. “So he threw Matthews under the bus,” said one insider, who added, “This has [GE chairman] Jeff Immelt‘s fingerprints all over it – if not his fists.” GE is the parent company of NBC. “Unequivocally untrue,” an NBC spokeswoman told Page Six. “Jeff Immelt does not get involved in these decisions.” However, Immelt did get involved in the decision to fire radio legend Don Imus last year.

One knowledgeable source told us: “Shareholders were calling up NBC and GE – a lot, maybe thousands. They were saying, ‘What the [bleep] is wrong with these guys?’ . . . Chris Matthews just got stuck in the middle of it all.”

See Also: MSNBC Bags “Fighting Anchors” Strategy, Dumps Olbermann And Matthews

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