The deal, reportedly worth more than AUD$300 million (£170 million/$205 million/€193 million), covers Paris 2024, Milan Cortina 2026, Los Angeles 2028 and Brisbane 2032 as well as the Winter Olympics 2030, for which a host has yet to be announced.

Nine becomes Australia’s new Olympic broadcaster, replacing its main rival Seven who has televised the Games for almost 70 years.

Seven confirmed its withdrawal from the bidding progress after refusing to increase its offer worth between AUD$230 million (£130 million/$157 million/€148 million) and AUD$250 million (£142 million/$171 million/€161 million), according to the Sydney Morning Herald.

It is also reported that both bidders were below the figure of AUD$400 million (£227 million/$274 million/€258 million) that the IOC were hoping for.

IOC President Thomas Bach said its new partnership with Nine would ensure Olympic fans across Australia have "unparalleled coverage" of the Games.

Under the deal, Nine will have exclusive, free and subscription audio-visual and non-exclusive audio rights to every Olympics through to 2032.

The broadcaster is expected to utilise its television, audio and digital platforms 9Now, Stan, the 9Network, and talk radio stations 2GB, 3AW, 4BC and 6PR.

Coverage is also set to be delivered through Nine’s print and online outlets including The Sydney Morning Herald, The Age, Brisbane Times, WA Today, The Australian Financial Review, and nine.com.au.

"This partnership with the IOC is an important part of Nine’s strategy as we continue to define Australian broadcast and streaming television," said Mike Sneesby, chief executive at Nine.

"We’re delighted to be bringing the Olympic Games to Australians, whenever and however they choose, from Paris 2024 to Brisbane in 2032.

"These rights complement our recently renewed partnerships with the NRL [National Rugby League] and Tennis Australia at a time when live sport continues to demonstrate its ability to drive strong growth in streaming audiences and strength in free-to-air TV consumption.

"Importantly, this deal enables Nine to make the Olympic Games accessible to all Australians across more platforms than ever before."

Australian Olympic Committee President Ian Chesterman added: "This is exciting to have Nine on board as a long-term broadcaster for our Olympic Movement at Games-time. 

"Nine has a well-deserved reputation for high quality sports coverage over many decades.

"With the arrangements extending across multiple platforms, Australians will be able to take in all the Games excitement no matter where they are.

“Channel Nine did an outstanding job in London back in 2012 and we know they will give Australians a front row seat to the exciting performances of our Australian Olympic athletes in Paris next year.

“Paris will provide a spectacular backdrop but once again the real stars will be the athletes - their stories and their performances. Nine will bring all that to life."

Seven and Nine were joint broadcasters of the 1956 Olympic Games in Melbourne, the first to be televised in Australia.

Since then, Seven has been the main Olympics broadcaster in Australia.

Nine last held the Olympic rights in Australia from Vancouver 2010 to Sochi 2014, which included London 2012, in a joint deal with Network Ten and Foxtel.