ESPN takes over from the Iberoamericana Television Organization (OTI) group of networks which broadcast each summer Olympics since the 1992 Barcelona Games.

The OTI paid $29.75 million (£18 million) to broadcast the 2006 Turin Olympics and 2008 Beijing Games.
 

ESPN's deal covers free plus pay-television rights in Argentina; all pay-TV rights in Bolivia, Chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay; and satellite-only rights in Venezuela.
 

The agreement does not cover Brazil, which are being shown by Rede Record, who paid $60 million (£37 million).

 

Jacques Rogge, the President of the IOC, said "The popularity of the Olympic Games in South America is growing rapidly, and we want to ensure that audiences in the region have the best possible broadcast experience.

 

"We are delighted to announce this agreement with ESPN and look forward to working with them."

 

IOC Executive Board member Richard Carrión, who led the negotiations, said: "ESPN will provide unprecedented levels of coverage of the Olympic Games, which is great news for sports fans in South America.

 

"We would like to thank ESPN for their commitment to the Olympic Movement."

 

ESPN, in which the largest stakeholder is the Walt Disney Company, has been broadcasting in South America since 1989.

 

Earlier this year they concluded a deal with the International Association of Athletics Federations (IAAF) to broadcast all IAAF World Athletic Series competitions for the period 2009-2011.

 

They are also interested in broadcasting the Olympics in 2014 and 2016 in the United States.

 

Russell Wolff, the executive vice-president and managing director of ESPN International, said: "This is a tremendous milestone for ESPN's business in South America.

 

"This agreement expands our relationship with the IOC and adds the Olympic Games to the schedule of world class events we cover.

 

"The Olympics is on the world's most inspiring events and we are very excited to bring it to sports fans around South America."

 

Tim Bunnell, the senior vice president of programming and marketing at ESPN International, said: "The scope of this agreement offers us a tremendous opportunity to serve sports fans in South America.

 

"The Olympic Games are at the pinnacle of all sporting events and I am pleased that ESPN can utilise and leveraqe its platforms to showcase an event of this magnitude to fans in South America."
 

The rights for Brazil in 2014 and 2016, including Rio de Janeiro, were awarded to three companies in a $210 million (£129 million) in August. 

 

TV Globo acquired the main rights across all platforms in partnership with Bandeirantes and Rede Record in what was described as a historic deal for Brazil, South America and the IOC.

 

 

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