From Dan Rafael's Blog.

Though I don't have a strong opinion one way or another, I understand HBO's decision not to pick up the June 20 Wladimir Klitschko-Ruslan Chagaev fight. It comes down to money, and HBO is in no mood to spend a lot of it for a fight in Germany (meaning no live U.S. prime-time telecast) that few have high expectations for in the ring, even if the bout is significant. If HBO spends its cash on this fight, there won't be anything left for a better Klitschko fight in the fall, or some other big fight. I don't love the decision, but I get it and respect it after Klitschko's intended opponent, David Haye, pulled out because of an injury. At least we'll get to see the fight here in America. It will broadcast live on ESPN Classic.

Kinda strange its just mentioned in passing and I haven't seen this picked up anywhere else yet, but what the hell, at least its on TV and we dont have to watch an internet feed in German.

Note by SC - Good news all around, the fight gets American TV (I'm not surprised that ESPN grabbed it) and it's not some last-minute PPV no one would have wanted to buy. This is easily a big enough and significant enough fight that it truly deserves to be televised. Like most everyone, I get why HBO passed, but I would've been pretty annoyed if we had gotten to the fight where the Ring title is on the line and a stream was the only way to see it, after we sat through Klitschko's fights with Austin and Rahman and the rest.