Japanese television stations agreed to pay $52 million to broadcast the 1988 Summer Olympics from South Korea, the organizing committee announced.
The agreement was initialed in Seoul between Keichi Shima, managing director of NHK, which represented five private stations, and Kim Woon Yong, vice president of the Seoul Olympic Organizing Committee (SLOOC). The formal signing is expected to take place by the end of April.
According to SLOOC officials, the "Japan Pool" will pay $35 million in broadcasting rights and $17 million in "cooperation fees" for the Seoul Olympics.
The SLOOC signed a risk-sharing contract last year with NBC of the United States that guaranteed a minimum of $300 million. The SLOOC has yet to negotiate for European broadcasting rights.