Olympics: NBC posts $223 million 1Q loss on Winter Games
Associated Press
LOS ANGELES — The tally is in: NBC lost $223 million on the Winter Olympics in the first quarter.
That's slightly better than the most recent estimate of $250 million in losses. Advertising sales have improved a bit since NBC parent General Electric Co. made that projection in late January.
The Olympics did bring about $800 million in extra revenue to GE. But NBC had a lot of production and other expenses, including $820 million just to acquire the rights to carry the Vancouver Games on television and online.
Still, GE executives say the high-profile event had ratings that were 14 percent better than the 2006 Winter Olympics in Turin, Italy, for which NBC paid $613 million.
