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CBC BEATS OUT CTV FOR NAGANO RIGHTS WITH $16M BID
Published June 2, 1995
The CBC won the Canadian broadcast rights to the '98 Nagano Games, bidding a "record" $16M to edge out CTV. CBC officials stressed that they "will not use a cent of taxpayer money" for the rights and expect to make a profit from the planned 240 hours of broadcast. CBC VP Jim Byrd: "Our bid was based on having a profit margin if we sell 80 percent of our [advertising] inventory. We're confident." The broadcasters went through two rounds of bidding before IOC VP/Broadcasting Richard Pound. CTV opened at $14M, CBC's opening bid was undisclosed. Since the two were within 10% of each other, Pound allowed them to make adjustments. CTV went up to $14.5M, losing out by $1.5M. To this point, Nagano has brought in $375M from the U.S., $73M from Europe and $16M from Canada. The remaining markets are Australia and Japan itself (James Christie, Toronto GLOBE & MAIL, 6/2). Japanese officials reportedly told the Canadian bidders that operating costs in their country will be at least 70% more than in Lillehammer in '94 -- an estimate which one industry source believes may be "conservative" (Ken McKee, TORONTO STAR, 6/2).