The exclusive telecast rights of President-elect Barack Obama's Inauguration Week have been bagged by HBO. The coverage would include the telecast of the star-studded opening ceremony on Sunday, January 18, in which Obama and Joe Biden, will attend at the steps of the Lincoln Memorial.

Undoubtedly, the ceremony will mark the opening of a historic week for the country's Capitol! Earlier too, in 1993, HBO paid $1.5 million to the Presidential Inaugural Committee for an exclusive coverage of Bill Clinton's similar kickoff.

According to the Presidential Inaugural Committee, though the ceremony will be closed to other media, HBO will offer the coverage for free not only on the Time Warner-owned channel, but to all cable and satellite channels. The event's entertainment schedule, in which many Hollywood and musical personalities are expected to perform, has not been announced yet.

However, the event will be attended by both Obama and Biden, and its coverage can also be streamed by HBO.

Though the sum paid by HBO to land the exclusive rights has not been disclosed, the Inaugural Committee executive director, Emmett S. Beliveau said: "HBO's proven track record as a leader in television will help ensure an event that reflects President-elect Obama's commitment to holding an inauguration that is open, accessible and reflects America's spirit of unity."

Two days later, the January 20 afternoon swearing-in from the Capitol Hill will be covered by all the broadcast and cable news channels