The Walt Disney Co is paying about $200 million for the rights to host an Olympic Games in 2024.
The deal is worth an estimated $1.8 billion.
ABC News reports the deal will see the Disney-owned networks of ABC and Disney Channel broadcast Olympic Games live on the Disney platforms.
The move will give the Walt Disney Company the right for ABC to carry live coverage of the 2020 Winter Olympics in Pyeongchang, South Korea, for the first time.
The rights are being bought by Walt Disney Parks and Resorts.
The network is also planning to broadcast an Olympics coverage in 2021.
ABC and ABC News have not announced a date for the Olympics.
ABC’s sports coverage has been the subject of intense controversy in recent years.
In March, the network aired the Olympic coverage live from Rio De Janeiro, Brazil, after being accused of covering up a racist incident.
ABC also broadcast live coverage from the 2016 Rio Games, but in October the network was accused of making up the Rio Olympics’ results and presenting them as a result of an international Olympic doping scandal.
ABC host Steve Brule accused the network of bias against US athletes.
The ABC has defended its coverage of Rio and Olympic coverage as fair and balanced.
The Rio Olympics were the first to be hosted by the ABC.