The CBS network and pay-television broadcaster Turner Broadcasting System have extended rights for the National Collegiate Athletic Association’s Division 1 men’s basketball championship, also known as March Madness.
The eight-year extension will run from 2025 to 2032 and has a total value of $8.8bn (€7.8bn) – a 43-per-cent increase on the annual value of the current 14-year rights deal, which is worth a total of $10.8bn over 14 years, from 2011 to 2024.
The two companies will be able to provide live coverage of the championship on all platforms.
Live coverage of the Final Four national semi-finals and national championship will continue to alternate between CBS and Turner each year. CBS will broadcast the games in 2017, with Turner showing coverage in 2018.
Turner will continue to manage the March Madness Live and NCAA.com digital platforms.
NCAA March Madness Live has more than doubled the number of its live video streams and live hours of consumption since 2011.
Under the new agreement, all opening, first and second-round games will continue to be shown across the TBS, CBS, TNT and truTV platforms.