TV Globo scores World Cup rights
Brazilian network to air next two tournaments
The net and FIFA inked the deal in December, but it has just been confirmed in TV Globo's 2006 fourth-quarter report.
TV Globo could pay FIFA $340 million for the two cups. But if FIFA does not pick Brazil to host the 2014 event, the price for the package drops to about $300 million.
Brazil and Colombia are in the running to host the tourney, with Brazil the favorite.
The coin to cover the expenses will come from TV Globo's cash flow. Company reported total net revenue of $2.93 billion in 2006, up about 12% from the previous year.
It took an average audience share of 53% in 2006.
The net intends to share the 2010 and 2014 World Cup rights with other Brazilian media groups. Similar negotiations failed in the past, however, as rival webs refused to pay Globo's high asking price for the 2006 World Cup.
