America Movil Scores Olympics Rights in Latin America

Carlos Slim Mexican Tycoon - P 2012
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Carlos Slim Mexican Tycoon - P 2012

The telecom company is owned by Carlos Slim, the richest man on the planet.

MEXICO CITY -- Venturing into new terrain, Mexican telecom firm America Movil has secured exclusive Latin American TV rights to the 2014 and 2016 Olympics.

Owned by Carlos Slim, the world's richest man, America Movil acquired rights to next year's Winter Games in Sochi, Russia and the 2016 Summer Olympics in Rio de Janeiro on all media platforms across Latin America. 

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This marks the first time that the Mexican telecom giant has landed broadcast rights for the Olympics, but it's hardly surprising given its position as one of Latin America's leading internet, telephone and pay TV providers. It's also the first time that a South American nation (Brazil) will host the Olympics.

Under the agreement with the International Olympic Committee, America Movil landed broadcast rights in 17 nations, including the region's top markets, Mexico and Argentina. The IOC says the agreement ensures there will continue to be free Games television coverage across Latin America. 

The IOC had previously announced a separate deal for broadcast rights in Brazil, also considered one of the region's leading markets. Broadcaster TV Globo won the bid for rights across all broadcast platforms in a partnership with Bandeirantes.