"Panama has a long Olympic tradition, with a Panamanian athlete first appearing at the Amsterdam 1928 Olympic Games," said IOC President Jacques Rogge.

"We look forward to continuing our partnership to make the upcoming London 2012 Olympic Games available on free television and radio to sports fans in Panama."

David Samudio Garay, sports director of the Panamanian media organisation, whose assets include Telemetro Canal 13, RPC Canal 4, Tele 7 and RPC Radio and Caliente 97.1, said: "Medcom Panama is very happy to continue its partnership with the IOC and the Olympic Movement.

"Since the 1968 Olympic Games in Mexico City, RPC Canal 4 has been covering and broadcasting the games on free TV in Panama so we are very excited in keeping up with the tradition."

IOC Executive Board member Richard Carrión, who led the negotiations, said: "I would like to thank our friends at the Corporación Medcom Panama for their role in making this agreement possible and I look forward to working closely with them."

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