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."
Read more at broadcastingcable.com.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
