Portugal's Publico newspaper reported on Tuesday that the country's Sport TV network has acquired the broadcast rights to the next two Olympic Games.
The deal will cover the Sochi winter Olympics, which take place in February, and the summer Games in Rio de Janeiro in 2016.
If confirmed, Sport TV will replace free-to-air Portuguese network RTP as the country's Olympic broadcaster.
RTP is a member of the European Broadcasting Union (EBU) which, up until this latest cycle, has traditionally held Olympic broadcasting rights for European territories.
The new arrangement with Sport TV is a result of the IOC's 2009 decision to sell the bulk of European broadcast rights to Sportfive, the first time since 1956 it has chosen not to work with the EBU.
Publico said it was possible Sport TV would sub-license some of its rights to free-to-air broadcasters, ensuring wider audiences across Portugal.
The deal remains unconfirmed by both the IOC and EBU.