Did Jesus establish a Magisterium?

On another blog, I'm having a debate with a fellow who says that Jesus did not establish a Magisterial Church.  So, I asked him, "what does this verse mean then,

Matthew 28:19-20King James Version (KJV)

19 Go ye therefore, and teach all nations, baptizing them in the name of the Father, and of the Son, and of the Holy Ghost:

20 Teaching them to observe all things whatsoever I have commanded you: and, lo, I am with you always, even unto the end of the world. Amen."

To me, that verse says that Jesus Christ commanded the Church to become a Teacher to the Nations.   And that is the definition of the word, Magisterium.  It means, "Teacher".

What do you think?