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NBC Won Olympic Rights

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Despite losing astronomical amounts of money on television the Vancouver Olympics, NBC has won the media rights to the 2014, 2016, 2018, and 2020 Olympic games for $4.38 billion.  I wonder if they overpaid.

According to Icenetwork:

Mark Lazarus, Chairman, NBC Sports Group: "It is a great thrill to know that NBC's unsurpassed Olympic heritage and unprecedented partnership with the IOC will continue through 2020. The Olympics are a significant part of NBC and the IOC again recognized NBCUniversal's unmatched ability to promote, market, program and produce the Olympic Games. London, Sochi, Rio and the 2018 and 2020 Games will benefit from our ability to galvanize all the resources of the newly-formed NBC Sports Group to bring the Games to more homes and more platforms than ever."

The decision came after two days of meetings held at the IOC headquarters in Lausanne. Switzerland, during which ESPN, Fox and NBC each gave a presentation and submitted their proposals to the IOC. The negotiation process started earlier this year with preliminary discussions conducted with all interested parties. Each proposal was discussed by an IOC delegation chaired by President Rogge.

Here is some more information and commentary about the Vancouver situation.