Yahoo May Bid to Become Canadian Olympic Broadcast Rights-holder
The Globe and Mail reports that Yahoo is considering a bid for the Sochi 2014 Winter Games and the Rio 2016 Summer Games after the International Olympic Committee (IOC) rejected two low bids by the Canadian Broadcasting Corporation (CBC) and BCE Inc.
According to the newspaper, Yahoo is weighing using the Canadian broadcast rights as an opportunity to enhance its reputation as a content producer.
The CBC and BCE are reportedly not willing to pay enough to secure a deal with the IOC because they don't yet know whether National Hockey League (NHL) players will participate in the Games. The nine-hour time difference between Russia and Central Canada may decrease the number of sports fans watching the Sochi 2014 Winter Games.
Once the NHL and its union decide whether its players will participate in the Games, the Canadian group is expected to come back with another offer in the summer.
Peter Sisam, a consultant who works with the IOC on its broadcasting deals, is quoted as saying, "CBC and CTV have had two lowball bids rejected now. There are other options out there, Yahoo is just one more".
Meanwhile, according to sources, Yahoo hasn't put together a formal bid package and is only starting to consider its options.
Sources inside the BCE-CBC partnership reportedly expressed skepticism that Yahoo would be able to top a joint bid from the two Canadian companies.
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