MSG Networks Contract Dispute

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MSG Networks debt

New York Post

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Exclusive | James Dolan’s MSG Networks, Optimum dig in for long fight as Knicks game blacked out: sources

Summary

Nutrition label

69% Informative

Cable operator Optimum pulled plug on MSG shortly after New Year's Day .

The two sides remain far apart in high-stakes negotiations that have major implications for both companies.

The breakdown in talks over a new contract with MSG Networks , which expired at midnight Tuesday , is part of a wider retrenchment by cable operators looking to slash high prices demanded by regional sports networks.

An extended fight with Optimum could force MSGN into bankruptcy, sources say.

The network has been in default on $830 million in loans since October .

The debt on that loan is trading at five cents on the dollar.

An MSGN bankruptcy would not necessarily be bad for Dolan , who controls both Sphere Entertainment and Madison Square Garden .

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Informative language

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formal

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English

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