NBC and the International Olympic Committee announced that they have reached a $3 billion deal to extend and expand their long-running partnership.

The IOC has signed a $3 billion deal with its long-time United States broadcast partner NBC for the 2034 Salt Lake City Olympics and the 2036 Summer Games. The International Olympic Committee said in a statement Thursday the agreement elevates Comcast NBCUniversal to being a strategic partner instead of just a media rights holder,

This agreement with Comcast is groundbreaking because it goes far beyond the traditional media rights agreement which we have had for many years with our valued partner”