NBC counts Beijing losses

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Despite spending $894m for the exclusive rights to televise the Beijing Olympic Games, NBC Universal has lost money on the event, according to executives of parent company General Electric.

Despite spending $894m for the exclusive rights to televise the Beijing Olympic Games, NBC Universal has lost money on the event, according to executives of parent company General Electric. In the company's third quarter earnings conference call, executives said NBC Universal generated more than $1bn in revenue from the Olympics, but wrote a loss on the event which hasn't been disclosed. A spokesman told The Hollywood Reporter however that at the end of the year, the Olympics will make NBC Universal a small profit due to the way they are accounted for. NBC CEO Jeff Zucker has also talked about a slight profit for the Summer Games. According to Reuters, Zucker told an event in London recently that " the Olympics were profitable, not wildly profitable, but we made money on the Olympics. " He also added: " You measure success in other ways than just what it's done for the bottom line. " Television ratings for the Summer Games exceeded expectations by 20%.

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