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NBC hopes to turn Olympic profit

(Reuters) —  When Olympic athletes line up to compete this week in Sochi, NBC executives will be going for the gold in another sport: turning a profit on the $775 million they paid for TV rights — a prize that has been stubbornly elusive in recent years.

Network executives insist profits are possible this time after NBC Universal, a unit of Comcast Corp, broke even on its telecast of the 2010 Summer Olympics in London. The unit lost $223 million at the last winter games, in Vancouver, according to General Electric, which owned NBC at the time.

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