US: Coke pays US$500m for sports sponsorship deal
Coca-Cola Co has sealed a US$500m deal with Viacom's CBS unit and the National Collegiate Athletic Association for sponsorship rights. The tie-up is being as something of a victory for Coke over arch-rival PepsiCo Inc, whose Pepsi brand was a corporate sponsor of NCAA games in the past, but not directly through CBS.
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