• Adweek, Tuesday, March 2, 2010 10:44 PM

Despite a sharp cutback by automaker General Motors, CBS has sold more than 90% of the available ad time for its coverage of the National Collegiate Athletic Association's men's basketball tournament, known as March Madness. Ad prices for the tournament escalate sharply from the opening round, where spots can be had for under $100,000, to the championship game, where 30-second units cost a little over $1.2 million.

GM has cut its commitment to the tournament, which runs from March 16 to April 5, by roughly half to $25 million, per sources. Toyota, Mercedes and Audi have all re-upped, while Nissan is a new advertiser to the games. AT&T and Coca-Cola are returning as "corporate champions," the highest NCAA sponsorship level in CBS' NCAA coverage.

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