A test burning of the cauldron for the Olympic flame is seen ahead of the Sochi Winter Olympic at Adler Arena on January 31, 2014 in Sochi, Russia.  - 

NBC has bought the rights to broadcast the Olympics through 2032, on TV, over the internet and on mobile devices.

The head of Comcast, the company that owns NBC, said securing the broadcast rights for the Olympics is, in his words, an "honor" and a "privilege."

That's an honor and a privilege that will cost Comcast a reported $7.65 billion... which is about how much money Alibaba has in cash.

Follow David Gura at @davidgura