With years left on their current deal, CBS and Turner Broadcasting made a play for another eight in an agreement with the NCAA valued at $8.8 billion to extend their rights to host the Men’s College Basketball Championship tournament through 2032. The extension will see Turner and CBS Sports offer the annual event “across any platform within their respective portfolios, including those to be created over the life of the agreement.” In addition, CBS Sports and Turner will continue to manage and collaborate on the NCAA’s corporate marketing program while 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. Meanwhile, all opening-, 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 while the Final Four national semifinals and national championship will continue to alternate between CBS and Turner each year.

“The extension of our current agreement will allow our more than 1,100 NCAA member colleges and universities to continue to support student-athletes on 19,000 teams across 24 sports,” said NCAA President Mark Emmert. “We have a diverse membership with varying resource levels, and this extension will assist our campuses as they provide pathways to opportunity in higher education and beyond for nearly a half a million young men and women each year.”