Australian commercial broadcaster Seven has withdrawn from the bidding process for the next cycle of rights to the Olympic Games, according to the Australian newspaper.
The report said that the broadcaster pulled out after being asked by the International Olympic Committee to increase its offer to a level that would ensure the governing body would not receive lower revenues in Australia than in the previous cycle.
Commercial broadcaster Nine and pay-television broadcaster Foxtel paid a combined fee of A$120 million (€95 million/$124 million) for the rights to the 2010 winter Games in Vancouver, Canada, and the 2012 Games in London, UK.
Seven had been the only free-to-air broadcaster to reveal a firm interest in the next cycle of rights.
Nine decided against bidding after making a loss of about A$25 million on its coverage of the 2012 Games in London, while commercial broadcaster Network Ten has shown little interest as it focuses on other sports-rights acquisitions, the newspaper said.
The rights on offer cover the 2014 winter Olympics in Sochi, Russia, and the 2016 summer Games in Rio de Janeiro, Brazil.