“(a) Exemption of certain college sports agreements from antitrust laws.—The antitrust laws, as defined in the first sentence of section 1 of this Act, shall not apply to any joint agreement, by or among institutions of higher education (as defined in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001)) engaging in or conducting organized intercollegiate sports, or conferences that have such institutions as members, to form and operate an entity that sells or otherwise transfers to a third party all or any part of the rights of the institutions or conferences in the sponsored telecasting of the intercollegiate athletic competitions engaged in or conducted by the institutions or conferences.

“(b) Prohibition on broadcasts that overlap with Army-Navy game.—

“(1) IN GENERAL.—Subsection (a) shall not apply to any joint agreement described in that subsection that permits any person to sponsor, telecast, or authorize the telecast of any postseason intercollegiate football contest involving an institution participating in the Football Bowl Subdivision during the protected Army-Navy Game broadcast window.

“(2) DEFINITION.—For purposes of this subsection, the term ‘protected Army-Navy Game broadcast window’ means the period beginning 1 hour before scheduled kickoff and ending 30 minutes after the official conclusion of the telecast of the annual football game between the United States Military Academy and the United States Naval Academy occurring on the second Saturday in December in any year.”.

“(a) Exemption of certain college sports agreements from antitrust laws.—The antitrust laws, as defined in the first sentence of section 1 of this Act, shall not apply to any joint agreement, by or among institutions of higher education (as defined in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001)) engaging in or conducting organized intercollegiate sports, or conferences that have such institutions as members, to form and operate an entity that sells or otherwise transfers to a third party all or any part of the rights of the institutions or conferences in the sponsored telecasting of the intercollegiate athletic competitions engaged in or conducted by the institutions or conferences.

“(b) Prohibition on broadcasts that overlap with Army-Navy game.—

“(1) IN GENERAL.—Subsection (a) shall not apply to any joint agreement described in that subsection that permits any person to sponsor, telecast, or authorize the telecast of any postseason intercollegiate football contest involving an institution participating in the Football Bowl Subdivision during the protected Army-Navy Game broadcast window.

“(2) DEFINITION.—For purposes of this subsection, the term ‘protected Army-Navy Game broadcast window’ means the period beginning 1 hour before scheduled kickoff and ending 30 minutes after the official conclusion of the telecast of the annual football game between the United States Military Academy and the United States Naval Academy occurring on the second Saturday in December in any year.”.