College football: Michigan State vs. Oregon - Sept. 12, 2015

Michigan State fans stripe Spartan Stadium green and white for their top-10 matchup against Oregon in East Lansing Saturday, September 12, 2015. Michigan State won the game, 31-28.

(Mike Mulholland | MLive.com)

EAST LANSING -- Michigan State is at long last exporting its multimedia rights.

The school announced on Thursday that it has reached a 15-year agreement with FOX Sports for its multimedia rights. Michigan State will receive "guaranteed revenues in excess of $150 million", according to a release.

The deal covers Michigan State's print, radio and television programming, in-venue signage, promotions, corporate hospitality, intellectual property and more. It takes effect starting in the 2016-17 school year.

"Now is the right time and FOX Sports is the right partner for Michigan State," Michigan State athletic director Mark Hollis said in a statement. "FOX Sports can focus on building the Michigan State brand and leverage synergies with the FOX Sports family of networks, including FOX Sports Detroit and BTN."

The new revenue will help Michigan State cover costs of scholarships, cost of attendance, academic support, team travel, athletic training and medical services, according to the school.

Michigan State had previously managed its multimedia rights in-house. It was the only power conference school to do so.

Under the new agreement, Spartan Sports Network will continue to produce Michigan State's radio game broadcasts and coaches shows. SSN has held the school's radio rights since 2000, and broadcasts on 35 stations throughout the state.

FOX also manages the multimedia rights for Auburn, Georgetown, Southern California, Villanova and other schools.

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