Rogers Media Inc. today announced it will not pursue a bid for the Canadian broadcast rights to the 2014 and 2016 Olympic Games as part of Canada’s Olympic Broadcast Media Consortium.

“As much as Rogers Media would like to continue being involved with the Olympic Movement, scheduling conflicts, combined with our financial priorities, suggest that it’s best for us not to be involved at this time,” said Keith Pelley, President, Rogers Media Inc. “We had an option and chose not to exercise it.”

Under the current agreement, Rogers Media is a 20% stakeholder within the Consortium, with the remaining 80% interest controlled by CTV.

“This was a difficult decision on so many levels, but it’s a disciplined approach that allows us to pursue new opportunities to best serve our viewers, shareholders and advertisers,” continued Pelley.

This decision does not affect Rogers Media’s commitment to the London 2012 Olympic Games. As an official rights-holder within the Consortium, Rogers Media, along with CTV, will deliver more than 5,000 hours of coverage of London 2012 to Canadians on multiple platforms.

“At Vancouver 2010, Rogers and CTV together set a new standard of media excellence, giving viewers the power of choice with multiplatform coverage in multiple languages,” said Pelley. “We look forward to delivering that same robust content strategy next summer at London 2012.”