NBC beat out competing bids from ESPN and Fox Sports and was awarded rights to broadcast the next four Olympics by the International Olympic Committee, the IOC announced today in Switzerland. NBC’s winning bid was $4.38 billion. NBC paid $2.2 billion to air the 2010 and 2012 Games.

Mark Lazarus, chairman of the NBC Sports Group, said “It is a great thrill to know that NBC’s unsurpassed Olympic heritage and unprecedented partnership with the IOC will continue through 2020. The Olympics are a significant part of NBC and the IOC again recognized NBCUniversal’s unmatched ability to promote, market, program and produce the Olympic Games. London, Sochi, Rio and the 2018 and 2020 Games will benefit from our ability to galvanize all the resources of the newly-formed NBC Sports Group to bring the Games to more homes and more platforms than ever.” Read more