NCAA signs 14-year deal with CBS/Turner; 68 team tourney next year
Official press release from the NCAA: http://www.ncaa.org/wps/portal/ncaah...+agreement+rls
Sadly, I think that the 96-team tournament is still on the way, but it won't be happening next year. The good part about this is that every first and second round game will be on a different station, so no more criticism of not being able to watch a particular game.
New NCAA Tourney deal: 68 teams
From espn:
http://sports.espn.go.com/ncb/news/story?id=5125307
The story is CBS will retain the rights, but they're adding Turner Broadcasting as well. This means every game will be shown in its entirety on different networks (think TBS, TNT).
Also, I can't really tell from the article, but it looks like they decided against the 96 team tournament, and opted instead to go with 68.