After speculation ran rampant about the NCAA wanting to expand its tournament to 96 teams, it did an about face as it settled on a 68-team tournament.

The NCAA, which reached a new 14-year, $10.8 billion deal with CBS and Turner, is expected to add three more play-in games. The new deal with CBS and Turner will allow all tournament games to be televised live across four networks for the first time.

CBS, TNT, TBS and TruTV will carry the games.

CBS will broadcast the regional final and Final Four games through 2015. Starting in 2016, CBS and Turner will alternate coverage of the Final Four and championship game. Coverage of the regional final will be split beginning in 2016.

CBS began televising NCAA Tournament games in 1982. 

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About 96 percent of the NCAA's revenue will come from its new deal with CBS and Turner.

“This is an important day for intercollegiate athletics and the 400,000 student-athletes who compete in NCAA sports,” NCAA Interim President Jim Isch said in a statement. “This agreement will provide on average more than $740 million annually to our conferences and member schools to help student-athletes in 23 sports learn and compete.”

No decisions have been made on the NIT. Although it is assumed since the NCAA didn't expand to 96 teams, the NIT will remain in place.