CBS Sports and Turner have locked up March Madness for the next 15 years.
The two media companies and the NCAA announced Tuesday an eight-year extension of the current multimedia rights agreement for the Division I Men’s Basketball Championship. The new contract extends the agreement through 2032 and gives both CBS and Turner the ability to air the games across any platform within their respective portfolios, including those to be created over the life of the agreement. The total rights fee for the extension is $8.8 billion, according to the partners. The groups had been engaged in a 14-year, $10.8 billion deal running through 2024. CBS Sports and Turner will continue to manage and collaborate on the NCAA’s corporate marketing program, and Turner will continue to manage March Madness Live and NCAA.com, along with major events surrounding NCAA championships, including the NCAA March Madness Fan Fest and Music Festival.
All First Four, first- and second-round games will continue to be shown across TBS, CBS, TNT and truTV with Turner and CBS splitting coverage of the regional semifinals and regional finals each year. Live coverage of the Final Four national semifinals and national championship will continue to alternate between CBS and Turner each year, with CBS broadcasting the games in 2017 and TBS televising them in 2018.
On the topic of the much-criticized CBS Selection Show, which delayed the complete brackets until 77 minutes into the show (the entire show had been just an hour in previous years), McManus said, “We haven’t had any specific discussions but I think we all agree it would serve all of us well including the fan to release the brackets in a little more timely manner.”