General Electric took over the New York set of NBC's Saturday Night Live Monday to announce that Jeffrey Immelt had been selected to succeed Jack Welch as chairman of the company. The decision to make the announcement at the NBC location also seemed to underscore comments made by GE officials to reporters who had gathered there that the company plans to hold on to the broadcasting giant. Immelt himself commented that the network is "going to be a big part of GE going forward."

Source: Studio Briefing