Skip to main content

IOC awards Aussie TV rights to Seven through 2020

By WTOP Staff

LAUSANNE, Switzerland (AP) — Seven Network has re-acquired the Australian broadcast rights to the next three Olympics, the latest long-term television deal struck by the IOC.

The IOC said Seven secured the rights on all media platforms to the 2016 Olympics in Rio de Janeiro, the 2018 Winter Games in Pyeongchang, South Korea, and the 2020 Summer Olympics in Tokyo.

Financial terms were not announced. Australian media have said the deal could be worth the equivalent of $186 million.

The International Olympic Committee said the agreement includes an “unprecedented commitment” by Seven to support the IOC’s goals across its television network, newspapers, magazines and online media. That includes promoting Olympic sports, health, education and youth sport.

Seven, which first broadcast the 1956 Melbourne Olympics, last covered the 2008 Beijing Olympics.

“The IOC enjoys long-term partnerships and this agreement is something of a homecoming between us and Seven,” IOC President Thomas Bach said in a statement late Monday. “Seven has made a concrete commitment to help promote the Olympic movement and the Olympic values, not only during each edition of the games, but all year round, and this was an important consideration in our decision making.”

Seven chairman Kerry Stokes cited a “long and deep partnership” with the IOC since the Melbourne Games.

“We are looking forward to celebrating our five decades association with the Olympics in Rio and to taking this partnership to a new level over the coming decade,” he said.

The Ten and Nine networks also had expressed interest in doing a deal with the IOC but reportedly pulled out because of concerns about high costs and an unfavorable time zone in Rio.

Seven had lost the rights to the Nine Network after two decades as the home of the Olympics in Australia. Nine and pay TV operator Foxtel paid a reported $100 million for the rights to the 2010 Winter Games in Vancouver and the 2012 London Olympics. Ten broadcast this year’s Winter Games in Sochi.

Seven West Media chief executive Tim Worner said the network’s biggest ever Olympic broadcasting agreement “confirms our belief in the future of free-to-air television in Australia.”

“The Olympic Games are much more than just a sporting event, this is still the greatest show on earth,” he said.

Bach, who was elected IOC president in September, is pushing for long-term deals to bolster the Olympic body’s financial stability.

In May, NBC signed a record $7.75 billion deal to extend its U.S. broadcast rights deal through 2032. In June, a consortium bought the Japanese broadcast rights through 2024 in a four-games deal worth $1 billion.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story

Related News

Where to take the family while they visit DC

Government shuts down after last-minute talks and Senate vote fail

How the Tax Cut Affects Investors