The lawyers that got fat on this are those who helped write and lobby the blackout clauses for the NBA (and whomever else) into their TV contracts.
At present, I cannot pull up the regulations link (site down or a firewall issue), ...
... but my impression of blackout is to get more butts in the seats at these sporting events. If the games are sold out (more money from ticket prices), then there is no need to "punish" those without tickets by not airing the game (more advertising dollars for the airing TV station, which helps pay its contract to the league). If the game isn't sold out, "punish" the locals, because their butts should have been at the game and tix were still available.
Again, without looking at the regulations, why would the FCC care if a sporting event is/isn't aired? I'm guessing that someone convinced them to care. To me, it looks like a money issue.
Am I making sense? I'll revise my post once I get home and can read the regs. That is, if I am way off-base.
-SUO