CBS Cleans Up on the Sports Fans

From online streaming of the Masters, NCAA March Madness, and other bonanzas, the TV network is raking in millions

What's that again about Old Media being clueless about the digital world? Not when it comes to online streaming of big sports bonanzas, such as golf's just-completed Masters Tournament or the NCAA's March Madness basketball championship tournament. For the 63-game March Madness roundball tournament alone, CBS (CBS) raked in $30 million from such advertisers as AT&T (T), Coca-Cola (KO), and Pontiac (GM) as 7.5 million college basketball fans streamed games on their personal computers, iPhones, and other digital devices.

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