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Friday, November 13, 2026Nov 13

Media giant Discovery insured against Olympic disruption

Stadium seats are empty during the Korean Basketball League between Incheon Electroland Elephants and Anyang KGC clubs in Incheon, South Korea, Wednesday, Feb. 26, 2020. The basketball game held without spectators as a precaution against the COVID-19. (Yun Tai-hyun/Yonhap via AP)
Stadium seats are empty during the Korean Basketball League between Incheon Electroland Elephants and Anyang KGC clubs in Incheon, South Korea, Wednesday, Feb. 26, 2020. The basketball game held without spectators as a precaution against the COVID-19. (Yun Tai-hyun/Yonhap via AP) Stadium seats are empty during the Korean Basketball League between Incheon Electroland Elephants and Anyang KGC clubs in Incheon, South Korea, Wednesday, Feb. 26, 2020. The basketball game held without spectators as a precaution against the COVID-19. (Yun Tai-hyun/Yonhap via AP)

Baseball and basketball played before empty stands. Soccer leagues delayed matches. Clubs left out of Asian competitions or matches were forced to relocate.

And the rapidly spreading virus that has infected more than 81,000 people globally and left more than 2,750 dead, mostly in China, continues to threaten the Tokyo Olympics which begin July 24.

One of the biggest rights holders of the Olympics, media giant Discovery Inc., said Thursday it had insurance to protect itself from a loss of revenue if the Olympics don’t proceed. The company discussed the prospect of the games being canceled during an earnings call to reassure investors.

“We continue to work very closely with the IOC and follow their lead,” said Jean-Briac Perrette, president of Discovery International. “If the event doesn’t happen it won’t be an adverse impact on our financials.”

Earlier this week, International Olympic Committee veteran Dick Pound warned that the Tokyo Games could be canceled because of the coronavirus, saying a decision could be needed by late May.