McManus and Levy said ad sales had easily surpassed their expectations.
"Considering the fact we haven't put on any basketball so far," McManus said with a laugh, "it's been a raging success."
Whether the basketball itself will be considered a raging success will likely depend on how many buzzer-beaters and Cinderellas this tournament produces. Levy noted that when TBS started broadcasting baseball's division series in 2007, it actually averaged more viewers than the previous year, when some games were on Fox and available to more people — but he was quick to add it was helped by the presence of several popular, large-market franchises.
The new NCAA contract, signed in April, paired up two companies with individual goals solved by the same solution. CBS wanted to keep the tournament but couldn't afford to without a partner. Turner, a Time Warner company, wanted a piece of another big-time sports event.
ESPN bid for the rights, too. CBS and Turner pitched to the NCAA that putting the tournament somewhere other than ESPN provided more exposure for college basketball. The argument: ESPN would promote the sport either way, but CBS would probably stop airing regular-season games if it didn't have the tourney, leaving fewer major platforms for NCAA hoops.
The tournament is the latest mega competition to migrate to cable, though the Final Four will remain on CBS through 2015. After that, it will alternate between CBS and TBS.
The round of 16 will be split between CBS and TBS this year, with the regional finals on CBS.
"One area David and I may disagree on is I firmly believe there are some events, iconic broadcasts, that should be and will be on broadcast television for a long time. David may disagree, and we'll negotiate against each other," McManus said as Levy laughed.
"There is still an advantage on certain events," McManus added, specifically mentioning the Masters. "I think this one, because of the unique nature of the event, is perfectly suited to a Time Warner-CBS partnership."
Levy believes viewers will eventually make no distinction between the big four over-the-air networks and cable channels.
"If you ask anybody who's anywhere from 12 years old to 35 years old, 'What's a broadcast network?' I'm not exactly sure they know," Levy said.
Other championship-level sports events don't present the challenge of multiple contests happening at the same time. The Olympics is the closest comparison, and NBC has used a roster of cable networks to air different competitions live simultaneously. NBC, though, has still held back certain marquee sports to show them in prime time, even if it means they're delayed.
With the recent Comcast-NBC merger and ESPN's stable of networks, media companies have more flexibility to use multiple channels. NBC is already directing viewers to and from new partners Versus and Golf Channel for NHL games and golf tournaments.
ESPN senior vice president Artie Bulgrin said when his network started working with ABC Sports, officials at the traditional broadcast network fretted about college football games on ESPN airing the same time as those on ABC and drawing away viewers. But every time an ESPN channel has added games, Bulgrin said, the total audience across all their networks has only grown.
Viewers could actually catch all NCAA tournament games in recent years, but only if they bought a special package on TV or watched online. Now the national pastime of complaining about how CBS flips between games is history. On Thursday and Friday, viewers will often have four games to choose from.
To McManus and Levy, the NCAA tournament is the perfect fit for that model. As with the NFL, where fantasy football forces fans to agonize over games they otherwise don't care about, brackets make every game matter in March. The picking starts sooner this year, with the First Four games Tuesday and Wednesday featuring No. 11 and 12 seeds who could make a run.
Those matchups will be on a network that once featured hours and hours of a different kind of court proceeding.
"Trust me," Levy said, "you're going to find where truTV is."
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