Broadcasting the 2010 Winter Olympics in Vancouver is turning out to be anything but a gold medal decision for NBC. Dick Ebersol, chair of the network’s sport division, admitted today that the company will lose money by broadcasting the quadrennial games.

Ebersol says the cost of rights to broadcast the event have increased while advertising prices have been plummeting. The cost of the former will outpace the gain from the latter. Hence the lost money.