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Holy Cow! NBC Loses $223 Million on the Olympics!

I think it’s time for NBC to NOT do the Olympics anymore!

This just in from TV Week:

NBC Universal Loses $223 Million on Vancouver Winter Olympics

NBC Universal Sports & Olympics Chairman Dick Ebersol told reporters in January that this year’s Winter Olympics would cost the network money, and now the figures are in, the Hollywood Reporter says.

NBC Universal’s first-quarter results show the Winter Olympics was a $223 million loss for the media company. The Torino Games in 2006 brought in $684 million in revenue for NBC Universal, despite the ratings being up by 14% for the 2010 Vancouver games.

Overall, NBC Universal posted a 49% decline in profits from last year’s first quarter, with $199 million in revenue, dragged down by the Olympics and sluggish box office sales.

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