NBC extends Olympic deal through 2032 for $7.75 billion

Actors line up to show the Olympic rings

Actors line up to show the Olympic rings during the closing ceremony of the 2014 Winter Olympics, Sunday, Feb. 23, 2014, in Sochi, Russia. (Credit: AP / David J. Phillip)

LAUSANNE, Switzerland -- NBC has secured the U.S. broadcast rights to the Olympics through 2032 in a record six-games deal worth $7.75 billion.

NBC already holds the rights through the 2020 Olympics in a four-games deal signed in 2011 for $4.38 billion.

The latest deal was announced Wednesday after secret negotiations between the IOC and NBC. There was no auction or open bidding this time, with only NBC making an offer.

The negotiations were led by International Olympic Committee President Thomas Bach.

Bach says "this agreement is excellent news for the entire Olympic Movement as it helps to ensure its financial security in the long term."

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