RONEY, Circuit Judge:
Do the antitrust laws prevent a professional football team from "blacking out" the television broadcast of its home games by a station physically outside of the team's "home territory" that broadcasts a signal deeply into that territory? Simply put, the answer turns on the interpretation of an exception to an exception to an exemption from the antitrust law. Deciding that signal penetration rather than station location was the focus of the controlling...
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