Madison Square Garden Entertainment, MSG Networks to Recombine in All-Stock Deal
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.