POSTED: June 7th 2011
NewsUpdate
AP sources: IOC stays with NBC network for US TV rights bid for over $4bn
LAURA WALDEN / Sports Features Communications
TAMPA/LAUSANNE, June 7: The Associated Press has sourced that the International Olympic Committee (IOC) has decided to stay with longtime rights holder NBC network. NBC shuts out two other competing US networks ESPN and FOX.
Two officials involved with the bid process speaking on anonymity told AP they submitted a winning bid for over US$4 bn for the Sochi 2014, Rio 2016, and the yet to be decided 2018 and 2020 Games.
The US TV rights last went to market in 2003 when NBC landed the deal for two Games 2010 and 2012 for $2.2 billion twinned with a TOP sponsor deal with parent company General Electric. The Vancouver 2010 Games that were held last year proved to impact NBC with a $200m loss given the downturn in the economic market and some loss is expected for London 2012.
This time the IOC put off the bidding from 2009 until now to allow for the worldwide economic recession.
Keywords · IOC · Jacques Rogge · Richard Carrion · NBC · ESPN · Fox
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