Olympic Games should benefit NBC

Oct. 11, 2008 at 3:09 PM
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NEW YORK, Oct. 11 (UPI) -- NBC Universal should ultimately make a profit on this year's Beijing Olympic Games despite a reported third-quarter loss, executives say.

Executives with General Electric, NBC Universal's parent company, said while NBC Universal reported more than $1 billion in Olympics revenue during its third quarter, the TV group reported a loss, The Hollywood Reporter said Friday.

While the exact size of the reported loss has not been released, a GE spokesman said the final financial figures for the 2008 event should result in a modest profit for NBC Universal.

"You collect revenue before and after the Games, and when all is said and done, the Beijing Games will be profitable for NBC," the unidentified company spokesman said Friday.

GE Chief Financial Officer Keith Sherin said Friday that TV ratings for the Beijing Games managed to exceed company expectations by 20 percent, the Reporter said.

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