Fox, ESPN, Time Warner Wrestling NBC For Olympics Rights

olympics judges

NBC will lose its decade-long stronghold on rights to the Olympics if Fox and ESPN get their way.

News Corp.’s Fox and Walt Disney Co.’s ESPN will bid for the rights to air the 2014 and 2016 Olympics, according to Bloomberg.

CBS and Time Warner are also contemplating getting in on the action together.

While NBC will be in the mix, it will be “fiscally prudent” with its bids, said NBCU chief executive Jeff Zucker to Bloomberg.

NBC said it will lose $250 million on this year’s Olympic Games in Vancouver due to a lack of advertising growth.  

But ad sales are expected to bounce back, and the 2014 Winter Games in Sochi, Russia and the 2016 Olympics in Rio de Janeiro will be likely money-makers for the network with the winning bid.

If ESPN wins the bid, it will be a first for the sports network and a first for cable television.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.