Discovery Channel has confirmed talks are underway with potential broadcast partners for the Olympic Games in Europe.

Peter Hutton, CEO, Eurosport told an investor day that Eurosportís programming schedule is nearly 50 percent Olympic sports, creating the opportunity to tell stories about the characters and events all year long.

Hutton said the Olympic Games would be profitable for the broadcaster with 70% of costs funded through sublicensing agreements.

The talks are with both traditional and new distribution partners, such as mobile and digital.

At last monthís RTS Cambridge event, ITV CEO Adam Crozier said the broadcaster would be interested in Olympic rights. It hasnít shown the games since the 1970s.

In June, the International Olympic Committee awarded all TV and multiplatform broadcast rights in Europe to Discovery and Eurosport for the four Olympics in the 2018-2024 period.