Both Fox and ESPN have said they would carry all Olympic events live, breaking from NBC's long-time practice of airing most of the games on tape-delay in prime time. ESPN broadcast all the matches live from last year's World Cup in South Africa.
ESPN also brings the powerful Disney brand to the table, which raises the prospect of a possible tie-in with the games. GE threw in a $200 million global sponsorship as part of NBC's winning bid for the 2010 and 2012 Olympics.
Also present at the bidding are U.S. Olympic Committee chairman Larry Probst and CEO Scott Blackmun.
The USOC currently gets a 12.75 percent share of U.S. TV rights deals and 20 percent of global sponsorship revenues, figures many international officials consider too high. Both sides are negotiating a new revenue-sharing deal to take effect in 2020.
The USOC and IOC will renew those talks Wednesday, and say they also hope to have an agreement in place by early July.