CBS, TW to share March Madness rights

10:17 AM PDT 4/22/2010 by Georg Szalai, AP

14-year deal will run 2011-24, valued at over $10.8 billion

CBS will share broadcast rights to the NCAA men's basketball tournament with Time Warner cable networks for 14 years under a $10.8 billion TV, Internet and wireless rights deal unveiled Thursday. The NCAA said the March Madness pact with CBS Sports and Turner Broadcasting System begins next year and runs through 2024. The partners outbid Disney's ESPN. Fox Sports originally looked at whether it could structure a bid that would work financially but left the process. Comcast's Versus also was rumored to be looking at rights.