Carlos Slim, the world’s richest man, has made a stunning entry into the Olympic broadcast market by snapping up rights to the Sochi 2014 Winter Games and Rio 2016 Summer Games across 17 countries in Latin America through his conglomerate, America Movil.

The company has acquired broadcast rights on all media platforms in Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela. Mexican multi-billionaire Slim has been attempting to bolster his involvement in sports over recent months and has invested in top-flight football clubs in his homeland in an effort to secure their broadcast rights.

International Olympic Committee (IOC) Finance Commission chairman Richard Carrión, who led the negotiations, said: “We are delighted to have reached this agreement with América Móvil which is a new partner for the IOC. It demonstrated a clear passion for the Olympic values and is excited about the Games coming to Latin America in 2016. The IOC negotiates broadcast rights on behalf of the Olympic Movement, and we believe this is a great deal for our stakeholders. The agreement ensures there will continue to be free Olympic Games television coverage across Latin America, but also allows viewers the choice of following the action on other media platforms as well.”

Arturo Elías Ayub, vice-president of strategic alliances for America Movil subsidiary Telmex, added: “The Olympic Games will be broadcast on all media platforms across Latin America, supporting the global transmission through new technologies, helping millions of people in Latin America to have access to the biggest international sporting event. We share the Olympic ideals and look forward to working together with the IOC.”

The agreement excludes 2016 Games host country Brazil. The IOC awarded the broadcast rights in Brazil for the two events to three organisations in August 2009. TV Globo, which won the bid, acquired the rights across all broadcast platforms, including free-to-air television, on a non-exclusive basis in partnership with Bandeirantes and subscription television, internet and mobile phone on an exclusive basis. In addition, Rede Record acquired the rights on free-to-air television on a non-exclusive basis.

By Matt Cutler

Source: www.sportbusiness.com