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|CEO Says NBC to 'Break Even' on Olympics
|NEW YORK (AP) -- The head of NBCUniversal says NBC is set to ''break even'' on its Olympics coverage, rather than taking a big loss, as it had expected.
Steve Burke, the CEO of NBCUniversal, says, ''We are way ahead of where we thought we'd be.''
Burke says that because of the timing of events in London, he had expected ratings to be down compared with the Beijing Olympics. But they are up so far.
Burke says the company had expected at one point to take a $200 million loss on London. He didn't elaborate on the accounting method used to declare NBC would break even.
Burke spoke to analysts to discuss the second-quarter earnings report of Comcast Corp., NBCUniversal's parent company. NBC has said it sold more than $1 billion in ads.