Big Ten media rights negotiations have been a major story in college football in recent weeks, as many around the country were waiting to see how much the league could get.

Well, the wait is over, as CBS announced a blockbuster new deal with the Big Ten via a press release on Thursday morning.

Per the release, the 7-year deal begins in 2023 and runs through the 2029-30 campaign. CBS will air a Big Ten game in its traditional 3:30 p.m. ET time slot starting in 2024, after its contract with the SEC expires. CBS also gains rights to the broadcast of the Big Ten Championship Game in 2024 and 2028.

“The Big Ten has been a valued partner for more than three decades and we are thrilled to expand that relationship by adding Big Ten football to our portfolio of marquee properties,” said Sean McManus, chairman of CBS Sports. “The combination of CBS Sports’ proven record in elevating college conferences to new heights, our standard of excellence and the strength and reach of Paramount Global’s linear and digital platforms, will create a powerful showcase for the Big Ten and its student-athletes. Together with Kevin Warren and the team at the Big Ten, we look forward to growing the conference to the highest of levels, reaching the widest audience.”

“The Big Ten Conference media rights agreements are more than just dollars and deals. They are a mechanism to provide stability and maximum exposure for our student-athletes, member institutions and partners during these uncertain times in collegiate athletics,” Big Ten Conference commissioner Kevin Warren said. “We are very grateful to our world-class media partners for recognizing the strength of the Big Ten Conference brand and providing the incredible resources we need for our student-athletes to compete at the very highest levels, and to achieve their academic and athletics goals.”

With agreements also in place with FOX and NBC, the media rights deals are expected to generate $1 billion per year over the next 7 years.