Carlos Slim's company wins Olympic TV rights

The IOC said America Movil, the Mexican telecommunications company controlled by Slim, was awarded the rights to next year's Winter Games in Sochi and the 2016 Summer Olympics in Rio de Janeiro on media platforms across Latin America. The deal does not include Brazil.

Financial terms were not disclosed.

It's the first time the IOC has granted rights to America Movil. The rights to the Rio Games were in high demand because they will be the first Olympics held in South America.

"In 2016 the Olympic Games in Rio will be a significant moment in Olympic history, and 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," IOC President Jacques Rogge said in a statement.

The negotiations with America Movil were led by IOC finance commission chairman Richard Carrion of Puerto Rico.

"They demonstrated a clear passion for the Olympic values and are excited about the Games coming to Latin America in 2016," he said. "We believe this is a great deal for our stakeholders."

In Mexico, Arturo Elias Ayub, Slim's son-in-law and spokesman, welcomed the IOC's decision.

"We are extremely pleased to have reached this successful agreement," Elias Ayub said in a statement. "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."

Elias Ayub told the Mexican newspaper Reforma that the deal gives America Movil the possibility of re-selling the rights in Latin America and of broadcasting the games on a new television channel in Mexico if Slim's Telmex company gets the rights to it once a new telecommunications reform is signed into law.

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.