MSG Sale Of Sports Business Possible But Not Certain
A sale of Madison Square Garden’s (MSG) sports and entertainment business is no slam dunk, but it could happen, says Morgan Stanley, which upgraded MSG stock to overweight on Monday. MSG on Friday confirmed plans to spin off its sports and entertainment business into a publicly traded company. The spinoff would include the New York Knicks basketball team, hockey’s New York Rangers and a sports arena. MSG stock was up by more than 5% in afternoon