As a Rangers fan I had expected no better from the great unwashed hordes and, if I'm perfectly honest, I would do exactly the same in their position. Funnily enough, most of the jolly japists look too young to remember the fact that Septic were within an hour of going out of business before the bunnet, Fergus McCann, stepped in to save them, and not that long ago.
However, as already pointed out, Sky won't pay through the nose for a TV deal WITHOUT the four Old Firm fixtures as it is the billiousness and the controversy of these fixtures that attracts an audience and, subsequently, the Sky dosh. Without them there will be a paltry deal on the table, if any at all.
Furthermore, I doubt very much that Rangers will die as there are too many fans worldwide to allow it to happen. The real issue is just what Criag Whyte has done with the club's money, not to mention the legality of his takeover.