In case you haven't heard yet, CBS will launch a March Madness Facebook application that will include brackets for a little friendly competition among friends. You'll be able to find the brackets online and via CBS Sports Mobile. I'll definitely check this out, since my friends and I have already used Facebook groups to keep track of who is filling out brackets (and who owes money).
This is a great move for CBS. It shows that they understand that content that can be easily distributed across platforms is more valuable than content that only lives in one place. To beat a dead horse, fans want to access what they want, when they want and how they want, and companies who can give this to them are a step ahead of the rest.
I could analyze this some more, but Mashable beat me to the punch. Wow, I am full of "beat..." cliches tonight aren't I?