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.
Follow @Variety on Twitter for breaking news, reviews and more