The IOC said it selected Terra following a successful partnership during the Beijing 2008 Olympic Games and its commitment to promoting the Olympic Games and the values of the Olympic Movement.

"Terra has been a fantastic partner during the Beijing 2008 Olympic Games, and we are delighted to be continuing our partnership through to the Vancouver and London Games," IOC Executive Board member Richard Carrion said in a press release.

"Digital media platforms became the media of choice for millions of Olympic fans across the world for the Beijing Games, and this trend is only set to increase over the next few years."

He said Terra had proven capacity to guarantee full exploitation of the broadcast rights over digital platforms, including live and on-demand broadcast over the Internet and delayed clips to mobile phones.

"This means sports fans across Latin America will be able to access fantastic footage of both Vancouver 2010 and London 2012 Olympic Games as and when they want," he said.

Teera's agreement on Internet (excluding IPTV) and mobile platform exhibition rights works within 15 countries and regions in Latin America such as Argentina and Chile while the IOC's broadcast partner in Brazil for the Vancouver 2010 and London 2012Olympic Games is TV Record, which has acquired broadcast rights across all platforms.

Terra, the largest Internet company in Latin America, is present in 18countries and regions, including the United States, and has approximately 60 million unique visitors per month; 8 million unique users per month use Terra TV (www.terratv.terra.com), with an average of 66 million streamings.