March Madness to Remain at CBS, Turner
The NCAA has extended its television agreement with CBS and Turner for the Men’s Basketball Championship for eight years and $8.8 billion.
The deal, which includes a higher annual license fee, now extends to year 2032.
The original deal came to $771 million per year; the extension comes to $1.1 billion, reports MediaPost.
Kantar Media estimates the annual championship produced $1.19 billion in television ad spending in 2015 and predicts this year’s total TV ad spend will exceed that.