In an article (HERE), the MLB announced their design for the new MLB Network. They say they used the 'home plate' design because the network is "home to all things baseball." If I had my guess, they came up with the reasoning after an all-nighter pulled once the logo was finalized... :-)
And, in response to Dayf's comment, I submit the following for your viewing pleasure(?):
Looks like a TV rookie card logo.
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