BUENOS AIRES — Argentina’s most successful sports program producer Torneos y Competencias has just sold stakes to Ceticorp Holding (CEI), Telefonica Intl. (TISA) and TCI.
Torneos’ main backer, Carlos Avila, is known as a shrewd businessman, who in just three years set up co-production, distribution and other arrangements with all of the Argentine broadcasters as well as with Fox Sports Americas. Avila has sold 40% of the company to TCI, 25% to CEI, 8.33% to TISA and is retaining a 26.6 % stake.
Torneos has exclusive rights to all soccer matches organized by the AFA (Argentine Football Assn.) until the year 2004.