CIE forms Brazilian subsidiary, will enter U.S.

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MEXICO CITY--CIE, Latin America's biggest promoterof live events, based in Mexico, has set up a Braziliansubsidiary CIE Brasil which has already formed severaljoint ventures. CIE has been expanding rapidly around theAmericas and is expected to enter the U.S. market this year.

In sports advertising, CIE Brasil has linked with Grupo VRto share the rights to soccer-field and rotational advertising for the leading Paulista league. Just in February, CIEannounced plans to sell such advertising space on behalf ofeight Mexican teams at home.

CIE Brasil is also paying $7.75 million for a 30% stakein Stage Emprendimientos, a consortium formed to operatetwo Sao Paulo indoor venues, the Palace and the soon-to-open Credicard Hall. Its partners in the venture includead exec Nizan Guanaes, president of DM9DDB, who has a 18.5%stake.

Copyright April 1999, Crain Communications Inc.

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