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January 7, 2013
11:15 EDTMSGMSG climbs after NHL reaches tentative deal with players
Madison Square Garden (MSG), which owns the New York Rangers of the National Hockey League, is climbing after the league and its players tentatively agreed a new contract yesterday. The deal, which is expected to end a lockout and enable the NHL to play a shortened season this year, would impose a salary cap of slightly over $70M this year. Next year the cap will drop to approximately $64M. Moreover, players' share of all hockey related revenue will decline to 50% from 57%. However, the players will also receive $300M in transition payments. In a note to investors earlier today, Stifel Nicolaus analyst Benjamin Mogil wrote that the deal is positive for Madison Square Garden, in light of the concessions that NHL owners obtained from the players. Moreover, as a result of the deal and its timing, Madison Square Garden will be able to avoid paying compensation to cable TV companies for the lockout, Mogil wrote. The analyst maintained a Buy rating on the stock, which rose $1.24, or 2.74%, to $46.52.
News For MSG From The Last 14 Days
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August 31, 2014
14:03 EDTMSGSterne Agee to hold a conference
Media IR Day to be held in Boston on September 3.
13:50 EDTMSGNomura to hold a conference
Digital Media Conference 2014 to be held in New York on September 3-4.
August 25, 2014
17:30 EDTMSGMadison Square Garden has more room for gains, Barron's says
Madison Square Garden has more room for gains now that JAT Capital Management took an activist stake in the company, Barron's argues in its 'Barron's Take' column. Reference Link
August 22, 2014
17:05 EDTMSGJAT Capital reports 6.73% stake in Madison Square Garden, may seek talks
JAT Capital may seek to engage with the company's board of directors or members of management of the company in a constructive manner to provide recommendations on ways to achieve long-term value for the company and influence the company through customary means including presenting their views for consideration to other stockholders, industry participants, knowledgeable industry or market observers, and other interested parties.
09:43 EDTMSGMadison Square Garden downgraded at ISI Group
As previously reported, ISI Group downgraded Madison Square Garden to Neutral from Buy. The firm downgraded shares due to valuation and mixed 2015 comps. Price target remains $66.
09:33 EDTMSGMadison Square Garden downgraded to Neutral from Buy at ISI Group
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August 21, 2014
10:14 EDTMSGOn The Fly: Analyst Downgrade Summary
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07:28 EDTMSGMadison Square Garden downgraded to Hold from Buy at Stifel
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August 20, 2014
07:37 EDTMSGMadison Square Garden reports Q4 EPS 15c, consensus 19c
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August 19, 2014
15:16 EDTMSGNotable companies reporting before tomorrow's open
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