Ron Meyer's contract as Universal Studios president extended through 2015
The new agreement, which replaces a previous one that would have expired in 2012, is a vote of confidence in the studio chief by Comcast Corp., which acquired parent company NBCUniversal earlier this year.
It comes as Universal is beginning to recover from two years of weak box-office performance. Its first two releases of the summer season, "Fast Five" and "Bridesmaids," have been hits.
Meyer was in talks with Comcast brass, including NBCUniversal Chief Executive Steve Burke, earlier this year over how long his new contract would last. Comcast had been offering a shorter extension than the executive wanted, according to a person familiar with the matter who requested anonymity because of the confidentiality of the talks.
The 66-year-old Meyer has been in his post since 1995. He was previously a top talent agent and cofounded the powerful Creative Artists Agency.
The new agreement keeps Meyer in charge of the Universal Pictures film studio and the Universal Studios theme parks. He continues to report to Burke.
-- Ben Fritz
Photo: Ron Meyer. Credit: David Livingston / Getty Images