Comcast Must Court Olympics, Part of NBC's Legacy

When Comcast was considering purchasing NBC Universal, one of its advisors urged the cabler only to do the deal if it would embrace the future of broadcast TV. That guru, News Corp. COO Peter Chernin, said he told Comcast head Brian Roberts to only spend the billions if you can "fall in love" with NBC. Thus, Comcast will spend whatever it takes to keep the Olympics on NBC when bidding for the 2014 and 2016 Games kicks off next year. ESPN may force it to pay more, but Comcast will top ESPN's bid on every round as the International Olympic Committee considers each side's latest offers. For Brian Roberts, love means having to take a loss. A new report from Bernstein Research indicates the Olympics will again be a money loser in 2012, though possibly break even beyond. No one said love is cheap.