MSG Networks in talks to avoid bankruptcy NY POST

[Knicks218]

"MSG Networks, the embattled cable TV station that airs New York Knicks and Rangers games, is in talks to reach a deal to avoid bankruptcy as soon as Friday — and insiders speculate that help could be coming from a deep-pocketed media player like Amazon, The Post has learned.

The sports channel controlled by billionaire Knicks owner James Dolan — currently blacked out for about 1 million New York-area subscribers because of a contract dispute with the Optimum cable network — is scrambling to restructure its debt with a group of lenders led by JPMorgan who are owed $829 million.

MSG Networks in October defaulted on its loans but lenders have extended the payment deadline multiple times, most recently from Jan. 10 to Friday at midnight. This time, the aim is to reach a deal rather than simply extend the deadline again, according to sources briefed on the discussions."

https://nypost.com/2025/01/31/media/msg-networks-in-talks-to-avoid-bankruptcy-possibly-with-help-of-amazon-sources/

[MrDollarBills]

"MSG Networks, the embattled cable TV station that airs New York Knicks and Rangers games, is in talks to reach a deal to avoid bankruptcy as soon as Friday — and insiders speculate that help could be coming from a deep-pocketed media player like Amazon, The Post has learned.

The sports channel controlled by billionaire Knicks owner James Dolan — currently blacked out for about 1 million New York-area subscribers because of a contract dispute with the Optimum cable network — is scrambling to restructure its debt with a group of lenders led by JPMorgan who are owed $829 million.

MSG Networks in October defaulted on its loans but lenders have extended the payment deadline multiple times, most recently from Jan. 10 to Friday at midnight. This time, the aim is to reach a deal rather than simply extend the deadline again, according to sources briefed on the discussions."

https://nypost.com/2025/01/31/media/msg-networks-in-talks-to-avoid-bankruptcy-possibly-with-help-of-amazon-sources/

I brought this up Saturday but I don't think anyone knew about it. What are the implications here? Will the Knicks be on Amazon?

[thebuzzardman]

"Bankruptcy"

[Knicks218]

"MSG Networks, the embattled cable TV station that airs New York Knicks and Rangers games, is in talks to reach a deal to avoid bankruptcy as soon as Friday — and insiders speculate that help could be coming from a deep-pocketed media player like Amazon, The Post has learned.

The sports channel controlled by billionaire Knicks owner James Dolan — currently blacked out for about 1 million New York-area subscribers because of a contract dispute with the Optimum cable network — is scrambling to restructure its debt with a group of lenders led by JPMorgan who are owed $829 million.

MSG Networks in October defaulted on its loans but lenders have extended the payment deadline multiple times, most recently from Jan. 10 to Friday at midnight. This time, the aim is to reach a deal rather than simply extend the deadline again, according to sources briefed on the discussions."

https://nypost.com/2025/01/31/media/msg-networks-in-talks-to-avoid-bankruptcy-possibly-with-help-of-amazon-sources/

I brought this up Saturday but I don't think anyone knew about it. What are the implications here? Will the Knicks be on Amazon?

Oh really? I didn't know you already posted this topic before. Yeah I think the Knicks will be on Amazon as an option for those cable customers that MSG is blacked out on.

[Bob Ross]

I hope they do go bankrupt. They make it so hard to watch games outside of NY, they never play fair with TV providers. F*ck them

[TKKnicks1]

This has to some how be Thibs fault as well.

[Knicks218]

I hope they do go bankrupt. They make it so hard to watch games outside of NY, they never play fair with TV providers. F*ck them

Yeah than the MSG plus app which is now the Gotham app. You still can't watch all of the Knicks games and you can't even watch replay Knicks games if you miss them.

[KnixinSix]

I left comcast for the specific reason that I could not get msg.

Ended up with direct tv streaming....cheaper and got used to its ecosystem.

[nykballa2k4]

Wonder if they could make a deal with a streamer like Netflix or Max...

[BadNewsBarnes]

Wonder if they could make a deal with a streamer like Netflix or Max...

Prime Video has done this for the Yankees...so they could do it...

[Luv those Knicks]

How can they be bankrupt? I thought the Knicks were a cash-cow. OK, I know that cable rights is a legal quagmire, but MSG has the Knicks. That should be like printing money from a printing press. Guaranteed income.

Does anyone understand this?

- -

Edit, OK, I read the article. I should have read before posting.

From the article:

The cable network is losing money because it is paying $187 million in 2025 to broadcast Knicks and Rangers games as part of a 20-year agreement that ends in 2035, according to public filings.

“The model is upside down,” a source in the RSN industry said, and the prices paid for media rights a decade ago now make little sense.

So, Dolan owns the Knicks and Rangers, who are being paid handsomely by MSG network (owned by Sphere Entertainment Company), which is primarily owned by the Dolan Family.

So, Dolan has one business paying a 2nd business too much, and his first business is on the verge of bankruptcy, and hes OK with that, so he can restructure the debt. So, he's basically letting one business fail, while it profits his other business. This sounds like something the judge should throw out of bankruptcy court, like they did with Rudy G.

"Honestly Judge, I'm broke"

"You own 7 houses"

"Yes, but I'm really poor. And all that stuff I have, the art work, the jewelry. I gave it all to my son before any of this happened".

[HarthorneWingo]

[NYKinMIA]

the bitch get bitcher