Lagardere secures Olympic rights

Lagardere has secured the rights to the 2014 Sochi Olympic Games in Russia.

According to Kommersant, they have been acquired by the French media groupís agency Sportfive for an estimated Ä1 billion.

The rights cover 40 countries in Europe, including Russia, and will be sold on by Sportfive.

They cover all forms of TV distribution, including mobile and the internet.

Sportfive has also secured the rights to the 2016 Olympic Games, the venue for which has yet to be decided.