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Overtime Virginia Hoops Win Draws $113.5M in Ad Sales

Virginia’s overtime win over Texas Tech to win the national college basketball championship Monday night generated $113.5 million in TV advertising revenue, according to iSpot.TV.

There was a total of $933 million in TV advertiser spending on the March Madness tournament, according to iSpot.TV’s estimates.

Last year, the tournament's final four was on Turner's cable networks, so viewership was lower.

During the 55 different spots aired 61 times. Three spot aired after regulation, with a Buick spot running in a break in the action in the extra period.

AT&T Wireless was the biggest spender during the tournament, which aired on CBS, TNT, TBS and truTV, with estimated outlays of $68 million.

Other big spenders during March Madness include Buick at $42.5 million, GEICO at $36.4 million, Capital One, at $31.6 million and Progressive with $27.9 million.

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.