Globo secures Olympic TV rights in Brazil through 2032

Globo secures Olympic TV rights in Brazil through 2032

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LAUSANNE, Switzerland (AP) — Globo has secured broadcast rights in Brazil to the Olympics through 2032, the latest long-term, multi-games TV deal for the IOC.

The International Olympic Committee said Thursday that Globo, Brazil's dominant media company, was awarded the rights on a non-exclusive basis for free television and on an exclusive basis for subscription TV, internet and mobile platforms.

Terms of the deal were not announced. The agreement comes at a time when Brazil is mired in deep recession, and less than eight months before the Olympics in Rio de Janeiro.

In 2009, Globo and two other Brazilian media companies, Banderiantes and Rede Record, secured the rights to the 2014 and 2016 Olympics. The rights fee for those deals was put at $150 million, plus $40 million in media promotional packages.

IOC President Thomas Bach said the new agreement "demonstrates the confidence we have in (Globo) as Brazil's leading media organization."

"It is also an expression of our confidence in Brazil and the Brazilian people," he said.

The deal covers the 2018 Winter Games in Pyeongchang, South Korea, the 2020 Olympics in Tokyo, the 2022 Winter Games in Beijing, as well as the 2024, 2026, 2028, 2030 and 2032 Olympics, whose sites have not been decided.

Last year, NBC struck a record $7.75 billion deal with the IOC to extend its exclusive U.S. rights through 2032.

In June, U.S.-based media giant Discovery Communications Inc. secured the European rights for four Olympics through 2024 in a deal worth 1.3 billion euros ($1.45 billion).

Japan, China and South Korea have signed broadcast deals through 2024.

The IOC secured $4.1 billion in revenues from global rights deals for the current 2014-2016 cycle.

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