EBU says IOC rejects its 2014-16 TV rights bid

Reuters

The European Broadcasting Union said the International Olympic Committee had rejected its bid for the European broadcasting rights for the 2014-2016 Olympics, ending a partnership of over half a century.

Europe's public broadcasters union was the chosen broadcast partner due to its members' extensive reach of audiences on the continent.

"We very much regret the decision of the IOC. We have worked with the IOC since 1956 to deliver the Olympic Games to the broadest possible audience, and ensured maximum exposure of the Olympic Games," EBU president Fritz Pleitgen said in a statement.

The EBU, the largest association of national broadcasters in the world with 75 active members, has already bought the rights for the 2010 Vancouver Winter Games and the 2012 London Olympics for more than $700 million.

The 2014 Winter Olympics will be held in Sochi, Russia.