MSG Networks faces financial turmoil despite Knicks' promising season [CNBC]
Madison Square Garden Sports Corp. Class A (New) (MSGS)
Company Research
Source: CNBC
The networks, part of James Dolan's Sphere Entertainment, owe $829 million in debt. The channels have also been dark on cable TV distributor Altice USA since early January. Regional sports networks face continued upheaval despite the performance of their teams. Jalen Brunson, #11 of the New York Knicks, drives to the basket during the game against the Indiana Pacers in Round 2, Game 1 of the 2024 NBA Playoffs at Madison Square Garden in New York City on May 6, 2024. James Dolan's New York Knicks are in the middle of a promising and exciting season. It's a different story for the Dolan-owned TV channels that air New York-area teams' games. MSG Networks, a subsidiary of Sphere Entertainment , is navigating financial turmoil. Executives have been in discussions with lenders to refinance $829 million in debt, per public filings. Meanwhile, the channels have been dark on Altice USA since Jan. 1 due to a carriage dispute. A spokesperson for Altice said about one million Optimum c
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