I read the Media Guardian article. It is what is known in the business as a 'speculative piece'.
The entire reason for the story's existence is the IOC's rejection of a bid for post-2012 broadcast rights from the EBU. This means the EBU can't sell on the rights to national broadcasters, and national broadcasters will have to bid with the IOC directly. Those are the only facts in the entire article. Everything that follows is padding by a bored journo on a quiet news day trying to justify his desk space.
Key phrases to watch out for:
"May no longer exist"
"Could face possible bids"
"Would have to air"
"Would require a significant shift"
Sleep soundly in your bed. The Labour Government may no longer exist by 2014.