Even in this awful economic climate, HBO still has some money to burn!

In fact, they’ve just received the rights for the exclusively broadcast rights to telecast the opening ceremony of the Presidential inauguration this month on Sunday the 18.

This isn’t the first time HBO has covered politics. Back in 1993, they paid $1.5 million to the Presidential Inaugural Committee in order to televise Bill Clinton’s kick-off ceremony as well, including performances by Bob Dylan and Diana Ross.

This year the amount HBO paid wasn’t released, but you can bet it was millions

This time around, though, they are doing something different. HBO is planning to offer the event for free to all cable and satellite subscribers, even if they aren’t HBO subscribers.

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.”

Yea, and we’re sure the amount of money they paid them didn’t hurt either.

But aside from that Sunday afternoon, all broadcast and cable news channels will air the January 20th inauguration.