NBC to lose millions on the 2010 Games
Network blames high rights fee for the loss
Erin Loxam
Jan 11, 2010 09:07:07 AM
VANCOUVER (NEWS1130) - Bad news for broadcasters of the 2010 Games. NBC Universal admits it expects to lose money televising the Winter Olympics.
Despite an expected loss of a couple hundred million dollars, according to NBC's parent company General Electric, the network won't cut back on its coverage plans. The loss is primarily due the rights fee of $820 million paid to broadcast the 2010 Winter Olympics, over $200 million more than the event in Turin, Italy, four years ago.
NBC Universal will televise some 835 hours of Olympics programming next month, starting February 12th. Here in Canada the rights are owned by CTV. News1130 is the official radio station of the 2010 Winter Olympic Games.