MEXICO CITY – Mexican entertainment firm CIE said it has signed a five-year deal with concert promoter Live Nation Inc, which has Madonna and U2 among its clients, to bring international artists to Latin American arenas.

No financial terms were disclosed.

CIE, which organizes car races, concerts and owns the Mexico City horse race track, said Thursday the deal gives it exclusive rights to promote Live Nation's artists at its Mexican and Central American venues.

Time for Fun, where CIE holds an investment, signed a similar agreement with the U.S. concert promoter entitling it to bring artists to big South American markets like Brazil, Argentina and Chile.

Together, CIE and Time for Fun operate more than 25 venues across the region.

CIE is behind the two Madonna concerts in Mexico City, part of her “Sticky & Sweet” world tour, scheduled for late November and which sold out in under two hours.

Live Nation has made headlines in the last year with its high-profile moves beyond concert promotion to sign artists like Madonna, rapper Jay-Z and Colombian bombshell Shakira to recording contracts or merchandising deals.

CIE was not available for further comment.

(Additional reporting by Cyntia Barrera Diaz, editing by Dave Zimmerman)