Pack Mentality: N.C. State Signs Multimedia Deal With Capitol Broadcasting, Learfield Sports

N.C. State Univ. has signed a new multimedia deal “that will nearly double its rights revenue,” according to Jason deBruyn of the TRIANGLE BUSINESS JOURNAL. Raleigh-based Capitol Broadcasting Co. formed a joint venture with Learfield Sports and “will guarantee N.C. State at least $49 million over the life of the 10-year contract.” The deal “should offer more corporate sponsorship opportunities for companies that want to promote their brand at Wolfpack events.” Wolfpack Sports Properties will develop “corporate partnerships and manage the operations of the rights deal, including signage, event marketing, radio play-by-play and coaches’ shows, television coaches’ shows and official athletic web site sponsorships.” NCSU’s previous deal with Capitol Broadcasting brought in $2.6M per year. The school under the first year of the new agreement is guaranteed $4.15M “with annual increases for the life of the contract.” WRAL-FM will remain NCSU’s flagship station (BIZJOURNALS.com, 3/14).