RE:My suspicion
It has been clear for over a year that MLB was NLN's only real competition, and their sports pedigree beats NLN. But first MLBAM has to chew and digest this deal, and deliver on its promises, before they can go after bigger fish. Meanwhile, NLN has DivX and MLN doesn't.
NLN is now a 4K play more than sports play, i.e. a large screen play instead of a small screen play. Who wants to watch sports on a tiny screen anyway? The stock, I'm sure, will recover after a year or two, as Netflix did after its collapse. But it won't be quick. I expect a reactionary bump tomorrow or in the nest 2-3 days, and I intend to sell.