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Discovery Signs Olympic Deal With BBC for 2018, 2020

Discovery Communications has signed a long-term deal for rights to televise the Olympics in England.

The BBC, which has the U.K. rights to the 2018 and 2020 Olympics, is sub-licensing the pay TV rights to those games to Discovery. Discovery, whose Eurosport has the rights to the 2022 and 2024 games, is sub-licensing the broadcast right to those games to the BBC.

Financial terms were not disclosed. U.K. newspaper The Guardian put the value of the deal at $1.3 billion.

“Discovery is a passionate and committed partner of the Olympic Movement,” David Zaslav, Discovery CEO, said. "Today’s agreement is a win for UK sports fans and marks an exciting new chapter in Discovery and the BBC’s partnership on major sporting events."