Time Warner Paying Big Bucks for March Madness

Bloomberg: CBS has reigned for more than three decades over the final game of the NCAA men’s college basketball tournament. Next month, the champion of March Madness will be crowned for the first time on a cable network: Time Warner’s TBS. The cachet of airing the tournament comes at a high cost for Time Warner, which along with CBS will carry all 67 games starting this week on three of its cable networks: TBS, TNT and truTV. Time Warner has spent billions of dollars buying the rights to lure viewers and ad dollars.