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NBCUniversal nabs Olympics through 2032 with new $7.65-billion deal

NBCUniversal stitches up media rights to Olympics Games through 2032
Comcast makes a long-term bet on the continued popularity of the Olympic Games

NBCUniversal has clinched U.S. broadcast rights for the Olympics Games through 2032 -- making a multi-billion-dollar bet on the continued appeal of the global sporting event.

The International Olympics Committee and NBCUniversal announced the new $7.65-billion agreement Wednesday morning. Rights include all media platforms, including broadcast television, pay television, the Internet and mobile devices.

NBCUniversal already had rights to the Games locked up through 2020.  

The new agreement -- which covers the years 2022 to 2032 -- was valued at $7.65 billion. NBCUniversal also agreed to an additional $100-million signing bonus that will be used to promote Olympic sports and values between the years 2015 and 2020.

NBCUniversal in 2011 had stitched up the rights through 2020, but the IOC wanted to cement a new deal early, so it apparently negotiated exclusively with its longtime partner for an extension. The new agreement will help underwrite the Olympics for years to come, the two organizations said in a statement.

IOC President Thomas Bach, who led the negotiations, said in a statement: “This agreement is excellent news for the entire Olympic Movement as it helps to ensure its financial security in the long term, in particular future host cities of the Olympic Games, the athletes of the 204 National Olympic Committees and the International Sports Federations."

Comcast Chief Executive Brian Roberts said in a statement: “The Olympics are the world’s greatest cultural and athletic event, and presenting them to the American audience is an honor and privilege for our entire company.

"Our long-term commitment to and investment in the Olympic Movement are a reflection of our belief in the future of broadcast television," Roberts added, "as well as our confidence that our partners at the IOC will continue to deliver great Games and that the Olympics will remain the world’s premier sports event."

 

 

 

Copyright © 2014, Los Angeles Times
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