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Yes. Limited appeal sports currently carried as "filler" on sports networks would either move to broadcast TV or they wouldn't be televised. Sports "entertainment", like pro wrestling or women's indoor football in lingerie, would go PPV.
I'm surprised no one has mentioned that sports books (legal in Nevada, ubiquitous all over the country) also benefit from large amounts of bettable sporting events on TV. I'm sure they'd find a way to help finance cable sports networks, one way or another.
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