CCTV bags Olympics rights till 2016 for $160 mn

MUMBAI: China Central Television (CCTV), the state broadcaster in China, has acquired the rights for 2014 and 2016 Olympic Games across all broadcast platforms, including free-to-air television, subscription television, internet and mobile phone.

The deal is worth an estimated $160 million representing a 60 per cent increase from the current four-year contract.

As per the agreement between International Olympic Committee (IOC) and CCTV to broadcast the XXII Olympic Winter Games in Sochi, Russia, in 2014; the Games of the XXXI Olympiad in Rio de Janeiro, Brazil, in 2016; the second Summer Youth Olympic Games in Nanjing, China, in 2014; and the second Winter Youth Olympic Games in 2016, in Lillehammer, Norway.

IOC President Jacques Rogge said: "The IOC is very pleased to continue its long-term partnership with CCTV. CCTV has been a great ambassador for the Olympic values in China, and we look forward to continuing our work with them to broadcast the Olympic Games to the widest possible Chinese audience. We are also very much looking forward to working with CCTV on the second Youth Olympic Games, which will be held in Nanjing, China in 2014."

IOC Executive Board member Richard Carri?n, who led the negotiations, said: "CCTV has an unparalleled reach within China, and has promoted the Olympic Games, sport and the Olympic values to a Chinese audience for many years. We are delighted that we will be able to count on their support into the future."

"CCTV is a strong supporter of the Olympic Movement and believes in the Olympic values. We are delighted that we will continue to broadcast the Olympic Games and the Youth Olympic Games in the coming years," said Hu Zhanfan, CCTV President.