ENTERTAINMENT & MEDIA

NBC to Cut Back Sports Broadcasts: NBC President Robert Wright told an investment conference in New York that the network plans to substantially cut back the number of sports programs it airs. “The goal for NBC is to be No. 4 in sports. That’s the goal. The problem is that we are now No. 2,” Wright reportedly said. Spiraling rights fees NBC paid--such as $401 million for the upcoming Summer Olympics in Barcelona--have made it all but impossible for the network to earn its money back from advertising revenues. NBC airs National Football League and National Basketball Assn. games in addition to professional golf and tennis. NBC paid $752 million for a four-year NFL contract in 1990 and has lost between $40 to $50 million on the deal.