No. You will need both HBO and Sportsnet. You have to have one channel on in one room and the other in another room. They will then combine signals and project the 24/7 program onto your living room wall. That's the only way I know of to make it work.
However don't have the tvs in the same room facing each other. If you do that you end up creating a black hole taking you to another dimension where Cleary signed with the Flyers over the summer.