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IOC In June Will Hold TV Rights Bidding For '14, '16 Olympics
Published May 4, 2011
The IOC plans to hold bidding June 6-7 in Lausanne, Switzerland, for the '14 Sochi and '16 Rio de Janeiro TV rights package. The organization recently provided networks with those dates, according to sources familiar with the IOC's plans. NBC paid $2B for rights to the '10 Vancouver and '12 London Games, and IOC leaders have said they expect to match or exceed that for the '14 and '16 Olympics.
Bidding networks will agree to contractual terms with the IOC in advance of traveling to Lausanne. Once there, they will be given two hours to make a presentation illustrating how they will present the '14 and '16 Games. Then they will submit a sealed bid containing what they are willing to pay for the rights. The IOC will determine who wins the rights based on the presentations and the size of the bids.
NBC, ESPN and Fox are considered the most serious bidders. CBS and Turner have met with the IOC but have not shown the same level of interest in the rights to date.
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Bidding networks will agree to contractual terms with the IOC in advance of traveling to Lausanne. Once there, they will be given two hours to make a presentation illustrating how they will present the '14 and '16 Games. Then they will submit a sealed bid containing what they are willing to pay for the rights. The IOC will determine who wins the rights based on the presentations and the size of the bids.
NBC, ESPN and Fox are considered the most serious bidders. CBS and Turner have met with the IOC but have not shown the same level of interest in the rights to date.
