NBC loses $223 million on Olympics
NBC posted a $223 million first-quarter loss on the Olympics, the Associated Press reports. The good news: That’s slightly better than the $250 million the network had originally projected. The games brought in $800 million in revenue to parent company General Electric, but also cost the network a bundle, including $820 million just for the broadcast rights. Ratings were up 14 percent over the 2006 Winter Olympics, but NBC paid only $613 million for those games. NBC did not immediately respond to requests for comment.