LAUSANNE, Switzerland (AP) -- The IOC has awarded the Latin American broadcast rights to the 2014 and 2016 Olympics to Mexican telecommunications giant America Movil.
The IOC says America Movil acquired rights to next year's Winter Games in Sochi and the 2016 Summer Olympics in Rio de Janeiro on all media platforms across Latin America.
Financial terms were not disclosed.
It's the first time the IOC has granted rights to America Movil, which is controlled by Mexican billionaire Carlos Slim.
IOC President Jacques Rogge says "we are very pleased to have reached this important agreement to ensure fans across the continent are able to have the best broadcast experience of the games."
The negotiations were led by IOC finance commission chairman Richard Carrion of Puerto Rico.
He says America Movil "demonstrated a clear passion for the Olympic values and are excited about the games coming to Latin America in 2016."