DOLAN LOOKING TO SELL MSG NETWORKS; MARKET LACKS INTERESTED BUYERS

Madison Square Garden Networks (MSGN); the regional sports network owned by Jim Dolan, is up for sale, but lacking interest from bidders. Fox Sports Networks (FOXA), the most logical potential buyer, is reportedly not interested as it already owns the regional YES Network in the New York market. With cable subscriptions declining, ad revenues reflecting the Knicks disappointing on court performance, a cap number of $1.7 Billion and shares trading at 10x EBITDA, the company may simply not be worth the price at this time. If Dolan is unable to sell the company, there is always the possibility he will put it back together with MSG.

msgnetworks_500x1501

No one wants to buy James Dolan’s TV networks

Howie Long-Short opines: This stock had a huge run over the past year, in part on deal speculation. Who knows whether, or when, a deal gets done? Probably not the NYPost. Their M&A reporting tend to be all over the place.

Fan Marino says: On behalf of Mongo Nation, all I ask is that whomever ends up purchasing MSGN simulcasts whatever show Francesa & Russo end up doing in 2018.

Author: John Wall Street

At the intersection of sports & finance.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.