NBC Universal Pays $4.38B for Media Rights to 2014, 2016, 2018, 2020 Olympic Games (CMCSA)
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The International Olympic Committee announced Tuesday it awarded the U.S. media rights to the 2014, 2016, 2018 and 2020 Olympic Games to Comcast's (Nasdaq: CMCSA) NBC Universal for a total purchase price of $4.38 billion.
NBC Universal outbid Disney's (NYSE: DIS) ESPN and News Corp.'s (Nasdaq: NWSA) Fox.
Notably, NBC Universal paid $2.2 billion for the media rights to the 2010 games in Vancouver and next year's summer games in London.
NBC Universal's CEO Steve Burke said, "I’m extremely pleased we will be continuing as the IOC’s U.S. media partner. Broadcasting sports events is an important part of our business and the Olympics are obviously a significant part of the portfolio. We have a talented and experienced team in place with a legacy of outstanding Olympics coverage and we are all looking forward to London next year and to Sochi and Rio after that."
NBC Universal outbid Disney's (NYSE: DIS) ESPN and News Corp.'s (Nasdaq: NWSA) Fox.
Notably, NBC Universal paid $2.2 billion for the media rights to the 2010 games in Vancouver and next year's summer games in London.
NBC Universal's CEO Steve Burke said, "I’m extremely pleased we will be continuing as the IOC’s U.S. media partner. Broadcasting sports events is an important part of our business and the Olympics are obviously a significant part of the portfolio. We have a talented and experienced team in place with a legacy of outstanding Olympics coverage and we are all looking forward to London next year and to Sochi and Rio after that."
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