A three-member Supreme Court bench vacated a restraining order imposed on the MTV by the Colombo Commercial High Court in May.
The state TV Rupavahini had obtained the restraining order against MTV, claiming exclusive rights for the coverage of the London Games.
MTV challenged the order enabling it to share telecast rights.
Sports Minister Mahindananda Aluthgamage, commenting on the court decision, said it was pleasing that more stations are carrying the Olympics coverage.
