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The Canadian public broadcaster, which has broadcast 19 Olympics, lost the rights to London 2012 to Bell Media.
Canadian public broadcaster CBC/Radio Canada has won the rights to broadcast the 2014 Winter Games in Sochi, Russia, and the 2016 Summer Games in Rio de Janeiro, Brazil.
"This is excellent news for Canadians across the country who will once again experience the Olympic tradition with their public broadcaster," CBC president Hubert Lacroix said in a statement cited by the Hollywood Reporter.
Previously, CBC had broadcast Olympics 19 times over 60 years in Canada, most recently the 2008 Summer Games in Beijing, according to the Vancouver Sun.
It lost the rights to rival Bell Media and Rogers Communications for the 2010 Vancouver Olympics and London 2012.
CBC and Bell Media, which owns CTV, had submitted two joint bids for the Olympic package worth a reported $75 million, but both of them were rejected by the International Olympics Committee (IOC).
CBC then made a revised bid.
"We’ve been in the business of the Olympics a long time, so we’re secure we made the right deal," the Reporter cited Kirstine Stewart, executive vice president of English television, as saying Wednesday.
CBC didn’t disclose its winning bid, but sources close to the negotiation indicate a license fee with the IOC was worked out that will be "cost-neutral" for the pubcaster, and still hold out the possibility of profits.
The Sun cited IOC president Jacques Rogge as saying a statement: "CBC/Radio-Canada has a wealth of experience in broadcasting sports and the Olympic Games and we are pleased that we will once again be joining forces with them in the future."
Marcel Aubut, president of the Canadian Olympic Committee told cbc.ca, meantime: "CBC/Radio-Canada has been an unwavering champion of amateur sport and our nation's best athletes. They have unparalleled experience in broadcasting major multi-sport events, most notably the Olympic Games."
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