1. MSG Networks aims to resolve dispute with Altice USA via arbitration. 2. A short extension offers Optimum subscribers access to live sports programming. 3. MSG Networks features exclusive content for major New York sports teams.
The resolution of Media distribution disputes can enhance viewer engagement and increase subscriber numbers, positively impacting SPHR. Example: Similar agreements in the past led to stock recoveries.
The outcome of the Altice arbitration can directly affect MSG Networks' viewer base and revenue, impacting SPHR's market position.
Resolution of disputes likely leads to immediate stock market reaction. Historical instances show rapid investor responses to broadcasting agreements.
MSG Networks released the following statement about their dispute with Altice USA:
"Our goal is to make sure our Knicks, Rangers, Devils, and Islanders fans who are Optimum subscribers don't have to miss another game. To that end, we are willing to agree to a short extension tied to resolving our dispute through binding arbitration by a neutral, third party. This will enable Optimum subscribers to watch their favorite sports programming while we resolve our outstanding issues."
MSG Networks, a pioneer in sports media, owns and operates two award-winning regional sports and entertainment networks (MSG and MSG Sportsnet) and MSG+, a direct-to-consumer and authenticated streaming offering (included in the Gotham Sports App), that serve the nation's number one media market, the New York DMA, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania. The networks feature a wide range of compelling sports content, including exclusive live local games and other programming of the New York Knicks, New York Rangers, New York Islanders, New Jersey Devils and Buffalo Sabres, as well as significant coverage of the New York Giants and Buffalo Bills. This content, in addition to a diverse array of other sporting events and critically acclaimed original programming, has established MSG Networks as the gold standard in regional sports. MSG Networks is part of the Sphere Entertainment Co. (NYSE: SPHR).
Dan Schoenberg ([email protected])
SOURCE Sphere Entertainment Co.