Madison Square Garden Entertainment has agreed to acquire MSG Networks in an all-stock deal, setting up a recombination of the two companies.
It said the deal would also allow it to "capture more of the emerging revenue opportunity related to the potential expansion of legalized sports gaming in its market." After all, "the combination of the companies’ media, digital and venue assets creates a powerful platform for potential sports gaming partners, which is expected to generate significant incremental revenue in the years ahead," it explained.
Both companies have long been part of the holdings of the Dolan family. Jim Dolan serves as chairman of both firms and as CEO of MSG Entertainment, which Madison Square Garden Sports spun off last.
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