NBC has insurance if Tokyo Olympics get canceled
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Comcast, which owns NBCUniversal, made the announcement during Morgan Stanley’s Technology, Media and Telecom conference March 3, 2020.
NBCUniversal has a long term contract with the International Olympic Committee and U.S. Olympics Committee to be the exclusive TV broadcaster of the games through 2032.
That deal includes airing the games on its flagship NBC network as well as MSNBC, CNBC, other cable networks and streaming and digital platforms.
It has paid a reported $1.45 billion for the rights to the Tokyo games.
Should the games be canceled, NBC’s insurance payout would result in the network “breaking even” on the games — but the policy apparently doesn’t cover potential profits.