Lausanne (Switzerland): The IOC sold British rights for the next four Olympic Games to state broadcaster the BBC, lifting European broadcast earnings above USD 1 billion for the next four-year commercial cycle.
The deal covers the 2014 Sochi Winter Games, 2016 Rio de Janeiro Olympics, 2018 Pyeongchang Winter Games and the 2020 Summer Games. The hosts for the 2020 Olympics will be chosen in September 2013.
The BBC has had exclusive rights to broadcast each Olympic Games free-to-air since 1960.
The International Olympic Committee did not disclose the value of the contract with the BBC that was announced on Wednesday, just days before the start of the London Olympics.
IOC vice-president Thomas Bach said the British deal concluded its European rights business for the 2013-16 Olympic cycle comprising of the Sochi and Rio Games.
The Olympic body has earned more than USD 1 billion from the sales, Bach said.
The British deal is the latest long-term contract signed by the IOC in most lucrative markets.
United States broadcaster NBC paid USD 4.38 billion last year to extend its rights through 2020.