The Madison Square Garden Company (MSG) - NYSE
  • Sep. 16, 2015, 4:43 PM
    • Ahead of its upcoming media spinoff, Madison Square Garden (NYSE:MSG) gets a downgrade from Stifel Nicolaus, to Hold from its previous Buy.
    • There's a tough TV atmosphere ahead, and MSG Networks should be "particularly vulnerable with peak margins likely behind us and likely declining aggregate EBITDA going forward," the analysts say.
    • A lack of year-round live sports further presses the value proposition. MSG Networks must address “the headwinds both from a share of the market which has no interest in sports, and then on top of that the share of the addressable market because of competition (three RSNs in the market).”
    • Shares rose 0.2% today despite the downgrade; they're down 0.2% after hours.
    | Sep. 16, 2015, 4:43 PM | 1 Comment
  • Sep. 11, 2015, 4:35 PM
    • Madison Square Garden (NYSE:MSG), in the midst of spinning off its sports/entertainment interests from its media business, has announced executives for the media half, to be known as MSG Networks.
    • Andrea Greenberg has been tapped as president and CEO of MSG Networks, and Bret Richter its CFO. Greenberg will report to MSG Networks Executive Chairman James Dolan.
    • Greenberg will set strategy and manage the two regional sports nets, MSG Network and MSG+. She's been serving as executive VP of MSG Media at the company, having joined the operation before it was spun off from Cablevision in 2010.
    • Richter comes over from Cablevision, where he served as executive VP of corporate finance and development.
    • The separation is expected to happen Sept. 30.
    • Previously: MSG split may mean key M&A for Comcast, Fox (Apr. 02 2015)
    • Previously: MSG spinning off sports/entertainment businesses (Mar. 27 2015)
    | Sep. 11, 2015, 4:35 PM
  • Aug. 20, 2015, 7:32 AM
    • Madison Square Garden (NYSE:MSG): FQ4 EPS of $0.60 beats by $0.20.
    • Revenue of $387.9M (+4.4% Y/Y) beats by $27.91M.
    | Aug. 20, 2015, 7:32 AM
  • Aug. 19, 2015, 5:30 PM
    | Aug. 19, 2015, 5:30 PM | 4 Comments
  • Aug. 5, 2015, 1:25 PM
    | Aug. 5, 2015, 1:25 PM
  • Jul. 14, 2015, 9:34 AM
    • Madison Square Garden (MSG) announces it will transfer its listing to the NYSE from the Nasdaq on July 27.
    • The shift will also include the company's planned spinoff of its sports and entertainment businesses.
    | Jul. 14, 2015, 9:34 AM
  • Jun. 30, 2015, 12:49 PM
    • Madison Square Garden (MSG +0.8%) names David O'Connor as its new CEO.
    • O'Connor was a long-time executive at Creative Arts Agency.
    • Chairman James Dolan was filling the CEO role at MSG on an interim basis.
    | Jun. 30, 2015, 12:49 PM
  • May 1, 2015, 8:00 AM
    • Madison Square Garden (NASDAQ:MSG): FQ3 EPS of $0.51 beats by $0.10.
    • Revenue of $449.42M (-2.1% Y/Y) beats by $5.1M.
    | May 1, 2015, 8:00 AM
  • Apr. 30, 2015, 5:30 PM
    | Apr. 30, 2015, 5:30 PM | 5 Comments
  • Apr. 2, 2015, 8:19 PM
    • Madison Square Garden's (NASDAQ:MSG) plans to divide into two companies -- one holding the live sports and entertainment business, the other the media business -- might provide an instant $4B acquisition target for media-industry buyers like Comcast (NASDAQ:CMCSA) or Twenty-First Century Fox (NASDAQ:FOXA).
    • Aside from the Garden itself and the company's sports franchises (including New York's Knicks, Rangers and Liberty), the company features two regional sports networks (MSG Network and MSG+) that occupy the country's top media market, and would be a complement to RSNs at Comcast or Fox.
    • The MSG networks command a bit of a premium per subscriber over other RSNs ($3.49 for MSG and $2.98 for MSG+, vs. average $2.66). Fox already has a stake in the YES Network (Yankees); Comcast has a stake in SNY (Mets) and should be a bidder if its Time Warner Cable acquisition goes through.
    • Previously: MSG spinning off sports/entertainment businesses (Mar. 27 2015)
    | Apr. 2, 2015, 8:19 PM | 1 Comment
  • Mar. 27, 2015, 5:38 PM
    | Mar. 27, 2015, 5:38 PM
  • Mar. 27, 2015, 4:20 PM
    • Three months after stating it's exploring such a move, Madison Square Garden (NASDAQ:MSG) has announced it's spinning off its sports and entertainment businesses into a separate, publicly-traded, company.
    • The spinoff will include the Knicks, the Rangers, Madison Square Garden itself, Radio City Music hall, several other theaters, live productions such as Radio City Christmas Spectacular, entertainment JVs, and MSG's interest in Fuse Media. It's expected to be completed in 2015.
    • MSG +2.8% AH to $83.00, making new 52-week highs in the process.
    | Mar. 27, 2015, 4:20 PM | 2 Comments
  • Mar. 16, 2015, 7:01 AM
    • Madison Square Garden (NASDAQ:MSG) announces the resignation of Tad Smith as CEO of the company.
    • Smith will stay with the company until the end of the month.
    • Chairman James Dolan will tackle some of the CEO duties while Madison searches for a replacement.
    | Mar. 16, 2015, 7:01 AM
  • Feb. 6, 2015, 9:06 AM
    • Cablevision (NYSE:CVC) has naned company president Brian Sweeney its new CFO -- replacing Gregg Seibert, who will stay with the company as vice chairman.
    • Seibert, for his part, is also taking on vice chairmanships with Madison Square Garden (NASDAQ:MSG) and AMC Networks (NASDAQ:AMCX).
    • Sweeney will assume responsibility for Cablevision's Lightpath business as well as direct oversight of local media properties.
    • Sweeney began his Cablevision career in 1993 at its programming division Rainbow Media (now AMC Networks).
    • MSG is up 3.4% premarket off its earnings.
    | Feb. 6, 2015, 9:06 AM
  • Feb. 6, 2015, 8:56 AM
    • Madison Square Garden (NASDAQ:MSG+3.3% premarket after Q4 earnings and revenues beat expectations, despite the miserable season suffered by the NBA's New York Knicks.
    • MSG's Q4 sports segment revenue grew 10% Y/Y to $202.5M, and entertainment business revenue surged 19% to $194M; revenue at MSG Media, which includes MSG Networks, fell 8% to $166M, reflecting the Fuse network sale.
    • Guggenheim Partners, which rates MSG a Buy with an $85 price target, raises its 2015 cash flow estimate for MSG to $406M from $391M, primarily due to the amount saved in NBA luxury tax; the Knicks, a team notorious for having to pay the tax, have saved ~$25M in luxury taxes this season.
    • Q4 operating cash flow rose 18% Y/Y to $149M.
    | Feb. 6, 2015, 8:56 AM
  • Feb. 6, 2015, 7:33 AM
    • Madison Square Garden (NASDAQ:MSG): FQ2 EPS of $0.78 beats by $0.03.
    • Revenue of $542.53M (+6.5% Y/Y) beats by $19.33M.
    | Feb. 6, 2015, 7:33 AM
Company Description
The Madison Square Garden Co. engages in live sports and entertainment business. The company operates through two reportable segments: MSG Entertainment and MSG Sports. The MSG Sports segment owns and operates the following professional sports franchises: the Knicks of the NBA, the Rangers of... More
Sector: Services
Industry: Entertainment - Diversified
Country: United States