NEW YORK (TheStreet (Symbol : TST)) — CBS and Time Warner’s (Symbol : TWX)Turner Broadcasting have nearly sold out of the available TV and digital advertisements for their joint March Madness coverage, according to people with knowledge of the ad sales, giving the two media companies the leverage to charge what negotiators say is one of their biggest annual boosts in years.
The two companies, which share revenue for the March Madness tournament, sold 30-second spots for the TV broadcast of the April 6 men’s championship game for as much as $1.6 million, according to negotiators involved in the talks. Last year, final game commercials averaged $1.5 million for a 30-second spot, a 5% increase over 2013, according to advertising data firm Kantar Media…
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