MLB just renewed with Fox Sports (their biggest contract) last fall, though 2028. Teams are renewing local contracts all the time. They're not shelling out Super Bowl money for it right now, because it's not the Super Bowl. I'd guess that raw viewership counts are getting harder to estimate, and becoming less meaningful as there are other levels of engagement too. If ballpark and merchandising revenue is holding steady, and online activity is increasing, is it really likely that millions are just dropping interest in the sport because a system isn't capturing them as live viewers of the event? I'm sure they're already seeing a shift from traditional commercial revenue ($1 mil for a 30 second spot repeated X times) to stadium brand placement and other less direct forms. In terms of owners vs players, MLB, just like most entertainment industries, probably gained a ton of revenue the past few decades -- cable TV, new stadiums, etc. And the owners and players had plenty to split. And it's probably leveling off a bit now, as to be expected -- it's not sustainable to expect a new MLB stadium to open every year -- and both sides are maybe getting a bit more protective of their shares and their meager gains. So I wouldn't be surprised to see some labor friction, but I don't think it's because of any precipitous, avoidable media collapse.