Madison Square Garden Co logo

MSGS WI - Madison Square Garden Co News Story

$172.47 17.5  11.3%

Last Trade - 17/04/20

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £2.92bn
Enterprise Value £3.18bn
Revenue £278.5m
Position in Universe th / 7405

BUZZ-Madison Square Garden shares bounce as Knicks owner says considering selling team

Mon 17th December, 2018 4:26pm
** Madison Square Garden  MSG.N  jumps nearly 7 pct on Mon
after New York Knicks owner James Dolan says he would consider
selling the NBA team
    ** MSG set to snap 4-day losing streak. Stock recently up
5.8 pct at $276.72
    ** Dolan, CEO of MSG and also owner of New York Rangers NHL
team, told ESPN http://www.espn.com/nba/story/_/id/25556830/new-york-knicks-owner-james-dolan-consider-selling-team-bonafide-offer
 on Mon there have been "feelers" of up to $5 bln for the
Knicks, but that "no one has come through with a bona fide
offer." 
    ** Dolan took over as chairman of MSG in 1999 and the Knicks
made the NBA finals that year, but they have struggled on the
court for vast majority of his tenure
    ** MSG shares popped 14 pct on Jun 28 after Dolan said he
was mulling a spinoff to separate co's sports businesses from
live entertainment  urn:newsml:reuters.com:*:nL4N1TU4G5. And stock rose ~3 pct on Dec 6
after he settled U.S. securities charges that Dolan said stemmed
from a law firm error  urn:newsml:reuters.com:*:nL1N1YB1M2
    ** Wall Street overwhelmingly bullish on MSG: 8 analysts
rate stock "buy" or stronger, 1 "hold"; median PT $359
(Refinitiv data)
    ** Today's move extends stock's YTD gain to 31 pct,
following 23 pct gain in 2017

 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))
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