ESPN's Brett McMurphy is reporting that the ACC presidents (including FSU - but not Pitt or Syracuse since they don't become members until July 1) have approved a grant of media rights for the league through 2026-27. A grant of rights means that during the length of the agreement, a school's media rights, including revenue, from all home games belongs to the league regardless of what conference the school is in. The ACC becomes the fourth of the big 5 conferences to include a grant of rights agreement. Only the SEC of the major conferences does not have such an agreement in place.
The agreement runs through the length of the ACC's TV deal with ESPN which is estimated to be worth $17M per school per year. There are some unconfirmed reports in the story that the value per school could rise to $20M per year in 2014 when Notre Dame begins to play their ACC five game round-robin schedule.
Here's the link to the complete story -ACC media-rights deal