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Crain’s Chicago Business: 120 Sports, an online network launched in 2014 as a hub for commentary and highlights, laid off more than 20 employees on its production staff and reduced its live show time to seven hours a day from the previous 12. Viewership during the midday and evening shows was not as high as expected. “We weren’t getting the appropriate return on what we were investing,” said 120 Sports president Jason Coyle.