Grupo Globo Can Help Olympic Channel Reach "Full Potential"

(ATR) Brazilian market is possibly the "strongest media partner" the IOC will acquire in developing the Olympic Channel, says Michael Payne, who helped broker the deal. Michael Payne,former head of the IOC marketing division, says the

"Brazil is an important market," Payne tells Around the Rings. Payne is also former head of the IOC marketing division. Hesays the IOCcan develop the "full potential" of the Olympic Channel with a partner like Grupo Globo.

The IOC announced its decision to award Grupo Globo broadcast rights for the Olympics through 2032 in a statement on Thursday.

NBC was the only rights holder through 2032 until now.

Gerardo Werthein, delegate IOC member for broadcast rights in the Americas, commented on the deal in the IOC's statement.

"This exciting agreement demonstrates the IOC's belief that Brazil's largest media group, Grupo Globo, is well-placed to provide the best possible promotion of Olympic sport and the Olympic values in Brazil in the long term, all year-round.

"This includes a commitment to collaborate with us on the new Olympic Channel."

IOC President Thomas Bach echoed Werthein's sentiments."This long-term agreement with our partner Grupo Globo demonstrates the confidence we have in them as Brazil's leading media organization."

"It is also an expression of our confidence in Brazil and the Brazilian people. Next summer Rio will welcome the world as the host of the first ever Olympic Games in South America.

"In addition to broadcasting the Olympic Games until 2032, Grupo Globo has committed significant year-round promotional support for sport and the Olympic values, which will contribute to ensuring another positive long term legacy from the Olympic Games next year."

Payne also tells ATR the agreement with the IOC could not have come at a better time for Brazil. "Clearly the timing -- seven to eight months before the Games -- is an important boost of confidence to Rio in what is an obviously challenging political and financial environment."

He added, "Globo took the partnership because of the long term view.

"One benefit of long term deals is you're able to spread the load. If you only go for a single Games, there's more exposure on the economic vagaries of time zones."

Roberto Irineu Marinho, chairman and CEO of Grupo Globo, weighed in on the deal in a statement this week.

"Our relationship with the IOC and the Olympic Movement goes back many years and this long-term renewal of our agreement shows the absolute faith that Grupo Globo has in our country, in the Olympic spirit and in the future,"

"Taking the Olympic values to the Brazilian People, across many different media platforms, is a challenge that Grupo Globo is proud to assume."

Written byNicole Bennett

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