Eurosport has won the broadcast rights to the next Olympics. Discovery, which owns Eurosport, paid €1.3 billion (£920 million) for the European rights to the games.
The deal covers all platforms, including free-to-air TV, pay TV, internet and mobile in all languages across 50 countries throughout Europe.
However, all is not lost for the Beeb. It can still sub-license the rights from Discovery, so it could still show some of the action.
Under UK law, the Olympic Games are "listed" and so must be shown on free-to-air TV. A minimum of 200 hours of the Olympic Games and 100 hours of the Olympic Winter Games will be shown on free-to-air TV while the games is going on.
Discovery chief executive David Zaslav said the company would sub-licence to other broadcasters.
"Part of our approach will be to strive to work with some of the best Olympic broadcast players," he told The Guardian. "The BBC will have the right to sub-licence some of the rights. We'll open up those discussions in every market.
"We want to give them the opportunity to sub-licence. In some markets we will run free-to-air, pay TV and all devices and in others we'll partner with others."