BREAKING NEWS: U.S. Olympic Committee To Launch its Own TV Network

In a move that is going to be watched over the next few years, the U.S. Olympic Committee today announced the formation of a new TV network. It will be called U.S. Olympic Network or USON for short. With NBC's Universal Sports, this now gives the consumer two full-time dedicated TV channels to Olympic Sports. As NBC shovels track & field, skiing, figure skating and gymnastics among other sports to Universal Sports, it will be interesting to see if the two networks compete for the same events and if the governing bodies of the Olympic sports decide to go with USON over Universal.

In addition, the U.S. Olympic Committee was smart in partnering with Comcast giving USON instant credibility. I do have the press release and it states as follows:

USOC and Comcast partner to launch the U.S. Olympic Network

COLORADO SPRINGS, Colo.; PHILADEPHIA, Penn.; and SUN VALLEY, Idaho - The U. S. Olympic Committee (USOC) and Comcast Corporation announced today that they have entered into an agreement to form the U.S. Olympic Network (USON), the first-ever cable television network devoted solely to the excitement, competition and values connected with the Olympic Movement.

Expected to launch in 2010, broadcasting year-round, and using multiple platforms, including television, video on demand and online, the USON will provide a window into the quests of American athletes to reach the pinnacle of their sports. Viewers will be able to watch live coverage of championship competitions and, after 2012, Olympic trial events in a wide range of sports, plus live, non-stop news reports, commentary, interviews from the locations of future Olympic and Paralympic Games, and classic Olympic footage through its exclusive U.S. access to thousands of hours of programming.

Additionally, the USON will provide video on demand content, enabling subscribers to watch their favorite Olympic athletes and their feats whenever they want. A broadband platform will also be established for Internet customers to experience the passion of the Olympic Games online with news, highlights, and event coverage. The transaction is subject to closing conditions.

"The U.S Olympic Network will be a dream come true for fans of the Olympic Games, delivering rich year-round content associated with the world's greatest sporting competitions," said Stephanie Streeter, Acting Chief Executive Officer of the USOC. "By bringing the stories, competitions and history of the Olympic Movement into American homes year-round, the USOC hopes to not only inspire a new generation of athletes but also to educate young people about the ideals and values of the Olympic movement. And, we believe strongly that the USON can also serve as a template that can be used in other parts of the world to expand access to the Olympic experience. Plus, the USON's unparalleled year-round exposure of the Olympic brand - already one of the world's most recognized and respected - will generate compelling opportunities for Olympic sponsors to expand their association with the Olympic Games and the Olympic Movement. At the same time, we believe it will enhance interest in and viewership of Olympic-related coverage on broadcast networks. We are excited to work with all of our partners, and everyone associated with the Olympic Movement, to establish the USON as the foremost full time channel for Olympic-related content."

Jeff Shell, President of Comcast Programming Group, said, "Comcast is pleased to partner with the United States Olympic Committee on the U.S. Olympic Network. Promoting the spirit of the Olympic Games in the homes of millions of Americans will support our athletes and bring more Olympic entertainment to our customers."

"We are excited to see this important development for the USOC," added Matt Van Houten, Chair, USOC Athletes' Advisory Council. "It will do great things for America's athletes by bringing them and the Olympic Movement into the public's awareness on a year-round basis, not just for a couple of weeks every two years."

USON is conceived as a network to support the public interest of furthering the Olympic Movement's international mission of promoting peace through the Games. The USOC intends to use a significant portion of its net proceeds from the network's operations to help fund the training of American athletes.

Allen & Company served as an advisor the USOC.

Programming

The USON will appeal to a broad demographic consistent with the country's strong interest in the Olympic Games. It intends to air programming that is appealing to a younger demographic interested in sports and pop culture, as well as the traditional Olympic fan base with a greater understanding and recollection of the historic significance of past Olympic Games.

USON will deliver compelling programming such as:

The USOC's major events, including those sponsored by National Governing Bodies of Olympic and Pan American sport organizations, and the exclusive rights to the U.S. Olympic Trials after 2012;

• Archive-based shows utilizing thousands of hours of existing Olympic content;
• Films, movies and documentaries;
• Original series;
• Instructional programming; and
• News and talk shows that feature the engaging personalities of Olympians, Paralympians and hopefuls, and their quest to reach the pinnacles of their sports.

The USON, in addition to its cable and satellite presence, will integrate new media across all available platforms that will enable a strong personal connection between Team USA and Americans who will be inspired by their Olympic quest.

Expanded Opportunities for USOC Sponsors

Through a special Congressional charter, the USOC holds exclusive rights to use the words "Olympic" and "Olympiad," the Olympic rings and other Olympic imagery and phrases within the U.S. Given the positive and powerful nature of the Olympic brand, several of the world's leading companies have made significant investments to become Official USOC Sponsors and have the right to use Olympic marks.

USOC sponsors have made this investment despite the limited windows around the Olympic Games that are held for 17 days every two years. The USON will give USOC sponsors a new, 365-day-a-year opportunity to promote their association with the Olympic brand beyond this limited window. Several USOC sponsors have already expressed interest in becoming sponsors of the USON.

With USON providing the U.S. Olympic Trials after 2012, would it decide to keep all of the programming itself or perhaps partner with the U.S. TV Network of the 2014 and 2016 Olympics to share? It's all a different playing field for Olympic sports. I'm sure NBC would not have bought WCSN if it were not in the Olympics for the long haul. My question, would NBC partner with USON or perhaps buy an equity stake in the channel? A lot of question to be answered. This will be an interesting race between the two for Olympic sports programming.