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It is time to ask the question

Unless the parent company also owns the radio station, professional sports on radio is a very expensive programming option.

It can be. I read today that both the Oakland As and the Miami Marlins have no radio partner currently for the 2019 season. Apparently the costs became too great for any local stations in those markets. Oakland is looking into either buying a station, or leasing time on one. So it sounds like broadcasting is still important to some teams.
 
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