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NBC retains Olympic TV rights

Updated: June 7, 2011, 7:55 PM ET
Associated Press

LAUSANNE, Switzerland -- Bob Costas made the pitch and NBC met the price.

The peacock network outbid Fox and ESPN by almost a billion dollars Tuesday to win U.S. television rights to four more Olympics and keep the games through 2020.

The result: a $4.38 billion knockout for NBC.

Despite a recent change in ownership, the sudden departure of longtime Olympic chief Dick Ebersol and an uncertain economy, NBC and its parent company, Comcast, defied speculation that its grip on the ...

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