Fox gets a new deal to televise the World Series and the All-Star Game through 2013. They also get the ALCS in 2007, 2009, 2011 and 2013, and the NLCS in 2008, 2010 and 2012.
The number of Saturday afternoon games Fox is allowed to air increases from 18 to 26. That's every Saturday in the regular season, folks, just like NBC used to do in the '70s. I'm happy they're doing it but I'm also surprised given how low the ratings have been in recent years.
Fox is paying $250 million a year, down from the current $417 million, for the MLB rights. This is consistent with carrying half the LCS and (so far) dropping the division series.
Also, Turner Sports will get non-exclusive rights to carry games on Sunday afternoons that will be blacked out in local markets (e.g. if they carry a Cubs-Cardinals game, the TBS feed won't be shown in Chicago or St. Louis). They'll also get the NLDS and ALDS. Whether the games will be on TBS, TNT, or both is not mentioned.
The rights for the LCS games not on Fox are still under negotiation between MLB, Fox, and Turner. As of now, ESPN will not be carrying any playoff games.