CBS Bids $50 Million-Plus, Keeps NCAA Tournament

CBS won its battle to retain television rights to the National Collegiate Athletic Assn. men’s basketball tournament Saturday. The network outbid ABC and NBC on a three-year contract under which it will pay more than $50 million a year.

The NCAA is in the final year of a three-year CBS contract for $32 million a year. That amount is more than 75% of the NCAA’s annual operating budget from the tournament.

Still to be determined is how the new television riches will be distributed among tournament teams. Reaching the Final Four last spring netted each school more than $800,000.

Thrown into the deal were rights to the college baseball championship game of the College World Series and four other NCAA championships--men’s and women’s gymnastics, men’s volleyball and outdoor track and field. CBS also will continue to televise the championship basketball game in the NCAA women’s tournament.