NBC Weighs Value Of Future Olympics

Comcast Corp., which last month acquired majority ownership of NBC Universal, may not be feeling the love for the Olympics, according to a story by Meg James at latimes.com.

Long one of NBC's most prestigious properties, the Olympic Games have given the broadcasting company huge ratings, leverage when negotiating new deals with cable operators and sweeteners to attract marquee advertisers willing to pay hefty premiums.

NBC's previous parent company, General Electric Co., also used sponsorship of the Games as a calling card, helping to open doors of commerce in China and beyond. But unlike GE, Comcast isn't concerned with sales of turbines, lights and security systems.

NBC Universal posted a staggering $220-million loss on its coverage of the 2010 Winter Olympics in Vancouver, Canada, a financial gaffe that Comcast hopes not to repeat.

We are here to make money," NBC Universal Chief Executive Steve Burke said Wednesday when asked about Comcast's interest in the Olympics during a conference call with analysts. "We're here to be disciplined. Our job is to increase value over the long term."

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