Mediapro Buys Exclusive Formula One Rights for Latin America
The five-year deal pushes Mediapro into a different league in worldwide sports rights and includes pay and free-to-air broadcasts.
MADRID – Spanish media conglomerate Mediapro announced Monday it has acquired exclusive rights to the Formula One World Championship for all of Central America, the Caribbean and South America -- with the exception of Brazil.
The five-year deal runs inclusively from 2015 to 2019 and encompasses a potential television audience of 400 million viewers on pay and open TV on all platforms.
But perhaps more significant, the move allows Mediapro to group all content associated with the competition into a Formula One TV channel.
With this deal, Mediapro strengthens its already enviable position in the sports rights market. The Spanish group already owns the rights to the Spanish professional soccer league, as well as Formula One rights in Spain, which it has held for the past seven years. Mediapro also holds the key international soccer leagues, the European UEFA league and the upcoming World Cup in Brazil, in addition to the Euroleague Basketball.
Sports rights accounted for 35 percent of the group’s $1.9 billion (€1. 4 billion) revenues in 2013.