10:00 AM -- CBS Corp. (NYSE: CBS) has sold out its ad inventory for March Madness on Demand, its live Web coverage of the NCAA tournament, helping the network bring in $37 million in online ad sales, a 20 percent increase from last year.

Also notable: According to Advertising Age, CBS sold the same amount of ads for its online coverage of March Madness as it did for TV, bringing the revenues per viewer of the two platforms closer together than ever before.

"This is extraordinarily similar to selling TV and that's a good thing," Rich Calacci, senior VP for advertising sales for CBSSports.com, told Ad Age.

CBS has also forged new territory in its coverage on other platforms this year by adding live 3G streaming to its mobile application and planning to show the Final Four coverage in 3D on cable.

— Erin Barker, Digital Content Reporter, Cable Digital News