NBC said Tuesday that it has invested $140.8 million in San Francisco-based Quokka Sports, which provides interactive sports programming over the Internet.
Investment, which comes only weeks before the start of the Olympic Games in Sydney, sent shares of Quokka up 38¢ on Tuesday to close at $6.75. Shares rose as much as 57% during the day.
Quokka said it will issue a warrant to allow NBC to acquire as much as 10 million shares at $8.89 to $20 per share over the next 3-1/2 years.
NBC and Quokka have already inked a deal to create NBC/Quokka Ventures to provide exclusive Internet coverage of the Sydney games and the 2002 Olympics in Salt Lake City.