CBC buys rights to Olympics

The CBC has been awarded the rights to broadcast the next Olympic Games. The agreement covers the next five Summer and Winter Olympic Games.

It will do so in partnership with Netstar, the owners of the cable sports channels TSN and RDS.

The pricetag is $160 million U.S.

The network will provide coverage on basic CBC, CBC Newsworld, Radio Canada and the French all-news channel RDI.

CBC says the costs of covering the Olympics will be covered entirely through revenue, not the company's parliamentary appropriation.

CBC and Radio Canada will also provide exclusive radio coverage.