Broadcasting rights

The following are the prices paid for the American televi- sion broadcasting rights of the summer Olympics since 1980: Moscow—NBC agreed to pay $85 million; 1984 in Los Angeles—ABC paid $225 million; 1988 in Seoul—NBC paid $300 million; 1992 in Barcelona—NBC paid $401 million; 1996 through 2008—NBC paid $3.6 billion; 2010—NBC paid $820 million; 2012 in London—NBC paid $1.18 bil- lion for its American broadcast rights. Most recently NBC has purchased the U.S. broadcast rights to all the Olympic Games through 2020 for $4.38 billion. Assume you have been charged with the responsibility of determining the IOC and local Olympic Committee’s asking prices for the Tokyo 2020 television broadcast rights for five different markets: Japan, China, Australia, the European Union, and Brazil. Determine a price for each, and justify your decisions.