MSG Networks nears deal to skirt bankruptcy — potentially clearing path for YES merger: sources
The debt reduction and potential sale could stabilize MSGN. Similar past cases show that restructuring often precedes recovery.
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The debt reduction and potential sale could stabilize MSGN. Similar past cases show that restructuring often precedes recovery.
What happened, with direct paths to the underlying reporting
MSG Networks is restructuring debt with JPMorgan to avoid bankruptcy. Debt will reduce from $800 million to around $600 million. Dolan may market MSGN for sale after debt restructuring. MSGN's current rights fee payments are financially burdensome. Partnership with YES Network could enhance marketability post-restructuring.
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