Texas Longhorns cash in on their new TV network
ESPN will pay big bucks for Bevo broadcasts
AUSTIN, Texas (AP) - The University of Texas has reached a
20-year, $300 million deal with ESPN for a television network that
will broadcast Longhorn sports and other content.
A news conference to formally announce the contract was
scheduled for Wednesday afternoon. University spokesman Don Hale
confirmed the contract details.
The deal includes Texas' licensing and marketing partner IMG,
with more than 80 percent of revenue set to go to the university.
George Bodenheimer, president of ESPN Inc. and ABC Sports,
called the network "a testament to the school's remarkable,
tradition-rich success and widespread, devoted fan base."
(Copyright 2011 by The Associated Press. All Rights Reserved.)