Cbs, Sportsline Usa Link

After nearly two decades as a South Florida chief executive, Mike Levy finally hit a home run. The CBS network announced that it plans to invest $100 million for a one-third stake in SportsLine USA, the Internet sports news service Levy started in 1994.

Levy said CBS’ investment will be partly in cash and partly in in-kind services such as advertising support and access to CBS sports programming. The name of the service will change to CBS SportsLine.

Levy confirmed CBS would invest $100 million for one-third of SportsLine.

NBC completed its $2.3 billion deal with the Olympics, giving the network exclusive U.S. television rights to the games of 2004, 2006 and 2008.

In a related move, the IOC signed agreements with the U.S. Olympic Committee that will raise funding of America’s Olympic sports by as much as $100 million.

Former Notre Dame football coach Lou Holtz has signed a multiyear contract with CBS Sports as an analyst for its expanded pregame show, “College Football Today.”

He will go to work on the new half-hour show beginning next Sept. 13 along with co-analyst Craig James.