07/28/2012 05:43 EDT | Updated 09/27/2012 05:12 EDT

Olympic Games Broadcast Rights Bought By China Central Television For $160M

LONDON - The IOC says China Central Television has bought broadcast rights to each Olympic Games in the next four-year cycle leading to the 2016 Rio de Janeiro Summer Games.

The deal is worth $160 million and represents a 60 per cent increase on the current four-year contract tied to the London Olympics.

China's latest deal, covering all broadcast platforms, includes its home 2014 Summer Youth Olympics being hosted by Nanjing.

It also covers the 2014 Winter Games in Sochi, Russia, and the 2016 Winter Youth Olympic Games in Lillehammer, Norway.

China's state broadcaster has broadcast each Summer Games since the 1960 Rome Olympics.

IOC President Jacques Rogge said Saturday CCTV "has promoted the Olympic Games, sport and the Olympic values to a Chinese audience for many years."