They will replace the current Canadian broadcast partner, a consortium between Bell Globemedia and Rogers Media, who are currently covering London 2012, in a deal worth an estimated C$73 million (£46 million/€59 million). 

"Canada is a sports loving nation and Canadians are big fans of the Olympic Games," said Jacques Rogge, the President of the International Olympic Committee (IOC).

"CBC/Radio-Canada has a wealth of experience in broadcasting sports and the Olympic Games and we are pleased that we will once again be joining forces with them in the future."

Television figures in Canada for London 2012 are up by 87 per cent compared to Beijing four years ago, with the biggest audience so far being the 6.2 million who tuned into watch Jamaica's Usain Bolt retain his 100 metres title on Sunday (August 5). 

Usain Bolt's victory in the Olympic 100 metres was watched by more than six million Canadians

The deal comes more than a month after CBC and Bell Media announced they would no longer submit joint bids for the Canadian media rights for the Games.

After forming a partnership last September, the two media organisations submitted two joint bids for the package but both were rejected by the IOC, who have instead preferred the sole bid from Canada's state broadcaster.

The figure paid by CBC is significantly lower than the $153 million (£98 million/€124 million) paid by Bell and Rogers.

But that two Games deal included Vancouver 2010, as well as London 2012.

"This is excellent news for Canadians across the country who will once again experience the Olympic tradition with their public broadcaster," said CBC president Hubert Lacroix. 

"We've promised Canadians marquee events on all our platforms that create opportunities to connect with each other and the country.

"I can't think of a greater opportunity to create those connections and generate pride than showcasing the Olympic Games and the performances of our own Canadian athletes."

CBC has broadcast the Olympics on 19 different occasions, dating back almost 60 years, most recently Beijing in 2008.

"CBC/Radio-Canada has been an unwavering champion of amateur sport and our nation's best athletes," said Marcel Aubut, the President of the Canadian Olympic Committee.

"They have unparalleled experience in broadcasting major multi-sport events, most notably the Olympic Games."

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