Sky and ESPN have secured the rights to Scottish Clydesdale Bank Premier League football for the next five seasons for £65m.
The Scottish Premier League will have an option to opt out after three seasons following the 2011-12 campaign.
It was reported earlier this week that Old Firm clubs Celtic and Rangers were planning an audacious last-ditch bid to secure the rights and set up their own channel to show the games. But this attempt has failed.
Celtic has already attacked the decision by the SPL, saying the amount accepted is less than half Sky's bid last season and will cost the club up to £12m.
The games will be available as part of the Sky Ultimate package.
Sky and ESPN will show 30 live games each per season starting from the new campaign next month.
The deal will cover three years initially, with the SPL having a two-year extension option.
Lex Gold, chairman of the SPL, said: "We are pleased that in just over three weeks we have been able to strike this deal. Sky and ESPN are two of the biggest names in sports broadcasting and they will bring first class production standards and a wide audience to the table.
Barney Francis, managing director of Sky Sports, said: "This new deal gives Sky Sports viewers 30 live matches a year, including each of the Old Firm games, all in HD. And it gives the Scottish Premier League clubs stability and continued investment from committed partners."