NBC's Olympics coverage expected to be close to 'break-even'

NBC could yet earn a gold medal for its controversial decision to delay televising marquee events from the London Olympics until prime time in the US. The company approached the London Olympics expecting to lose about $200 million on its coverage. But ratings for the Summer Games have been much higher than expected, which should allow the company to escape a huge financial loss.

NBCUniversal is paying $1.18 billion to the International Olympics Committee for the exclusive television rights in the U.S., and is broadcasting the events on a multitude of channels including NBC, MSNBC, Telemundo, the NBC Sports Network and on the Internet. The company is incurring more than $100 million in production costs. Despite a chorus of complaints about the network's decision to delay broadcast of high-profile sports events until prime time, hours after the events are over, the television ratings have been dramatically higher than expected. Ratings are up about 9% compared with the Beijing Olympics in 2008, Burke said. The NBC network has been drawing more than 30 million viewers in prime time, a spectacular feat in an age of fragmented media and dwindling audiences.