I use both online sites and television as reference.
Online: Yahoo.com's sports section (
http://sports.yahoo.com/) It provides good, brief summaries of what's going on in sports. I like the opinion and analysis pages, as it goes more in-depth.
I sometimes use espn.com, but usually for more up-to-date information (Yahoo sometimes lags behind when it comes to coming out with news).
Television: I watch a lot of sports events on television, pretty much anything that could be considered a "major" sport as well as ESPN and ESPN2.
Programs I try to catch on ESPN/ESPN2: Sportscenter, the "special coverage program of a certain sport" (NFL Primetime, NHL 2Night, NBA Matchup, etc.), Around the Horn (features sportswriters around the country discussing various issues/events/players in sports)