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NBCpaid $401 million for the rights to televise the 1992 Summer Olympic Games, and it was widely reported that it had a loss of more

NBCpaid $401 million for the rights to televise the 1992 Summer Olympic Games, and it was widely reported that it had a loss of more than $60 million.CBSpurchased the rights to the 1992 and 1994 Winter Olympic Games for a combined $543 million. CBS reported a $322 million pretax loss on its baseball and football contracts in 1991.

  • Under what conditions, if any, should NBC and CBS have written down the value of their assets?
  • Does this situation allow opportunities for earnings management?

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