For starters, I watch a lot of football, and I have not heard about any widespread blackouts because teams are failing to sell out games. Second - the NFL's television revenue is gauranteed. If anyone is hurting it is the networks, who pay the NFL for the right to broadcast games, regardless of declining ad revenue. (or do you think that Godell and the owners cut the networks a break).
I am a capitalist and I don't have any problem with reducing costs and improving the bottom line, but at what price? Unless the 150 people that are being let go were just sitting around collecting a paycheck, someone is going to pick up the slack, without being paid anymore.
I went through this early in my career. I worked for a large telecom company that laid off over half our department. My workload, which was already high, practically doubled, while our bonuses decreased.