Business: NBC's Retreat from Moscow

The network gives up its Olympic gold—$70 million worth

Just thinking about the summer of 1980 used to make NBC proud as a peacock. For 17 days beginning July 18, millions of Americans would be glued to their television sets, watching NBC'S coverage of the Moscow Olympics. The figures were dazzling: 1,210 commercial minutes spread over 152% hours of programming, advertising revenues of $170 million. What is more, a promotional blitz during the Games could give the network's fall lineup a rousing sendoff. Surveying his prospects a year ago, NBC President Fred Silverman predicted...

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