Furthering its ever-growing global presence, Mexican telecommunications giant America Movil has just been awarded exclusive broadcasting rights both the 2014 and 2016 Winter and Summer Olympic Games. The agreement was announced by both the IOC, as well as America Movil press releases, and close out intense competition for the much-coveted rights. While some details about the deal have been released, as of today, no financial terms have been made public.
This is the first time that America Movil has been granted exclusive rights of this magnitude, which include exclusivity to all regions of Latin America except Brazil, where the 2016 games will be held. The move is a historic one for the Mexican company, as the ’16 games will be the first Olympics held in South America, and look to bring massive economic and cultural recognition to the continent. The deal brokered by the IOC also includes the 2014 Winter Olympics to be held in Sochi, Russia.
Both sides are excited about this new partnership, and are confident that they made the right choice; one that will benefit both the public interest, and the respective organizations. According to IOC Finance Commission Chairman Richard Carrion, “They (America Movil) demonstrated a clear passion for the Olympic values and are excited about the Games coming to Latin America in 2016. We believe this is a great deal for our stakeholders.”
Excitement on America Movil’s behalf was just as visible, as the company released a statement via their spokesman stating, “We are extremely pleased to have reached this successful agreement. The Olympic Games will be broadcast across all media platforms in Latin America … helping millions of people in Latin America to have access to the largest international sporting event.”
America Movil is one of the leading providers of cable or satellite TV service in Latin America with 16 million subscribers in 18 countries, except Mexico, where Slim has been trying to get into Television.
Securing the Olympic Games’ rights allows Slim to expand its presence in Latin American’s TV industry but more importantly, it shows his business model’s aim is to offer convergence services, which integrate the dissemination of voice, data, sound or pictures through a single network. For more on America Movil, and other growing telecoms in Latin America, check out our Facebook and Twitter pages.