I'm watching Pacquiao's match with Oscar de la Hoya right now on GMA 7 in the Philippines, and I'm frustrated by the relative length of the commercials compared to the fight itself.
For every 3 minutes of boxing, there's roughly 8 minutes of commercials! Drat. Out of these few dozen commercials, probably 5 of them had an internet or mobile marketing component.
Yahoo sport's round by round coverage of the fight is very detailed. Read this, and it's like watching the match without commercials. (Well, there's an ad in the website too. But you can choose to ignore them.)
http://sports.yahoo.com/box/news?slug=ki-liveboxing120608&prov=yhoo&type=lgns