On the radio
Maybe you want to sit back and read your copy of How To Watch The Olympics and listen to live commentary — for that, you’re well-served listening to 2GB in Sydney, 3AW in Melbourne, 4BC in Brisbane, and 6PR in Perth. These stations are the official rights broadcasters for the London 2012 Games in Australia. They have coverage from 7PM-7AM daily, as well as the Opening and Closing Ceremonies.
The ABC has comprehensive coverage of the Olympics through its national radio network, with AM, digital and online radio streams for live coverage and highlights — hit the link for all the details. If you’ve got a digital radio you can listen to the dedicated ABC London 2012 Digital radio station, and if you’re online you can listen to the ABC Grandstand website and the ABC Local Radio website (at certain times) for Games commentary. You can find the ABC Radio schedule for Olympic Games radio broadcasts here.