Bill James makes a lot of sense in this article on whether teams tank.

 The fact that this problem is ground into the history of the game does not mean that we have to accept it.  There is a simple principle that would help greatly.  The principle is:  when two teams play a baseball game—or any sporting event.  When two teams arrange a sporting event and the rights to broadcast that event are sold, both teams share equally in the profits. 

         That doesn’t mean that the Yankees and the Royals come out even.  Let us say that the broadcast rights for Team A generate $1 billion a year, and the broadcast rights for Team B generate $10 million a year, a hundred-to-one ratio. Team A keeps $500 million, and puts $500 million into a fund to be divided among the teams they have played, proportional to the games played.   Team B keeps $5 million, and puts the other $5 million into a fund to be divided among the opposition.   Team A still comes out far ahead, but the ratio changes from 100 to 1 to something more like 5 to 1. 

BillJamesOnline.com

I made similar points back in 2007 at Baseball Prospectus when pushing for competitive revenue sharing.