MSG Networks, Inc.

MSG Networks, Inc.

MSG Networks, Inc.

Overview
Date Founded

2009

Headquarters

2 Pennsylvania Plaza,New York, NY 10121-0091

Type of Company

Public

Employees (Worldwide)

820

Industries

Entertainment

Company Description

The Madison Square Garden Company is a fully-integrated sports, media and entertainment business. The company is comprised of three business segments: MSG Sports, MSG Media and MSG Entertainment, which are strategically aligned to work together to drive the company’s overall business, which is built on a foundation of iconic venues and compelling content that the company creates, produces, presents and/or distributes through its programming networks and other media assets. MSG Sports consists of owning and operating sports franchises, including the New York Knicks (NBA), the New York Rangers (NHL), the New York Liberty (WNBA), and the Connecticut Whale (AHL). MSG Sports also features other sports properties, including the presentation of a wide variety of live sporting events including professional boxing, college basketball, track and field and tennis. MSG Media is a leader in production and content development for multiple distribution platforms, including content originating from MSG’s venues. MSG Media consists of the MSG Networks (MSG, MSG Plus, MSG HD and MSG Plus HD) regional sports networks and the Fuse Networks (Fuse and Fuse HD), a national television network dedicated to music. MSG Entertainment is one of the country’s leaders in live entertainment. MSG Entertainment creates, produces and/or presents a variety of live productions, including the Radio City Christmas Spectacular featuring the Radio City Rockettes. MSG Entertainment also presents or hosts other live entertainment events such as concerts, family shows and special events in MSG’s diverse collection of venues. These venues include Madison Square Garden, Radio City Music Hall, the Theater at Madison Square Garden, the Beacon Theatre, the Chicago Theatre and the Wang Theatre

Website
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Executives & Employees

President & Chief Executive Officer

President & Chief Executive Officer

Executive Chairman

Executive Vice President, Chief Financial Officer & Treasurer

Chief Accounting Officer, Senior Vice President & Controller

Vice Chairman

Executive Vice President, Business Affairs

Senior Vice President, Investor Relations

Owner

Board of Directors

Executive Chairman at AMC Networks, Inc.

Senior Vice President/Vice Dean, Chief of Staff at NYU Langone Hospitals

Former President & Chief Executive Officer at MSG Networks, Inc.

Chairman-Legal Affairs & Trustee at New York Presbyterian Hospital

Founder at PanAfrican Investment Co. LLC

Chairman & Chief Executive Officer at Cleveland Indians Baseball Co., Inc.

Former Chief Operating Officer & Director at CSC Holdings LLC

Executive Vice President, Chief Information Officer, Director at CSC Holdings LLC

Executive Vice President/Board of Directors at Rock & Roll Hall of Fame Foundation

Member, Board of Directors at MSG Networks, Inc.

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MSG Networks, Inc.
Owners & Shareholders
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Ariel utilizes a bottom-up, fundamental analysis to select quality company stocks. The firm has three investment strategy approaches offered: traditional value, deep value and global. They use different research processes for each strategies. For traditional value, they monitor a proprietary watch list which is comprised of current, former and potential new investments. The research process of deep value begins with the screening of companies on size, valuation and industry parameters. Lastly, for global strategies, they first seek to reduce the risk of large investment losses by quantitatively and qualitatively identifying and eliminating businesses that have the highest propensity to fail, based on their judgment. The firm's investment decisions will primarily be derived from bottom-up fundamental research and stock picking and are made by the portfolio manager.

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Contrarius Investment Management Ltd. is an active, contrarian manager which aims to create long-term wealth for clients by buying stocks they believe are trading below their intrinsic value and which are attractive relative to other opportunities. They follow a valuation-based investment approach, performing proprietary bottom-up research which seeks to determine the intrinsic value of an investment. The firm sells stocks when they believe they have reached their underlying intrinsic value or when they are less attractive than other opportunities, aiming to avoid the permanent loss which can result from continuing to hold a stock that ultimately corrects to fair value. Contrarius takes a long-term approach to investing, with a typical investment horizon of four years, believing that the ability to outperform in the long-term is largely determined by focusing on the long-term value of a business rather than short-term news flow.

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RRAM employ a highly disciplined, proprietary investment approach which they refer to as \"Absolute Value.\" The strategy incorporates the most proven and enduring principles of value equity investing, with a specific avoidance of the pitfalls associated with the common Deep Value and Relative Value investment styles. The objective of this approach is to generate attractive, sustainable, low volatility returns over the long-term, with emphasis on minimizing downside portfolio risk. Their approach is based on four principal tenants: a focus on excellent companies trading at compelling prices; bottom-up portfolio construction; a focus on less efficient areas of the equity market; and risk aversion. RRAM's strategies include: Small Cap Value and Small-Mid Cap Value; Dividend All-Cap Value and Dividend All-Cap Value II; Long-Short Equity; and Focused Absolute Value.

Recent Transactions
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purchases The Madison Square Garden Company from MSG Networks, Inc.

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Fuse LLC (California) purchases FUSE Holdings LLC from MSG Networks, Inc.

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MSG Networks, Inc., Azoff Company, Azoff Music Management LLC purchase Burns Entertainment & Sports Marketing, Inc.

Insider Transactions
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Transaction Advisors
Legal Advisor

Advised onLive Nation Entertainment, Inc. purchases Front Line Management Group, Inc. from MSGN Holdings LP, Azoff Family Trust of 1997

Investment Advisor

Advised on purchases The Madison Square Garden Company from MSG Networks, Inc.

Legal Advisor

Advised onMSG Networks, Inc. purchases Tribeca Enterprises LLC

Chair, Tax Practice

Advised onMSG Networks, Inc. purchases Tribeca Enterprises LLC

Counsel

Advised onMSG Networks, Inc. purchases Tribeca Enterprises LLC

Counsel

Advised onMSG Networks, Inc. purchases Tribeca Enterprises LLC

Advisors & Consultants
Legal Advisor

Adjunct Professor of Law at Brooklyn Law School

Legal Advisor

Partner at Skadden, Arps, Slate, Meagher & Flom LLP

Legal Advisor

Of Counsel at Skadden, Arps, Slate, Meagher & Flom LLP

Clients

Charter Communications, Inc. engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. It operates through Cable Services segment. Its advertising sales and production services are sold under the Spectrum Reach brand. The company was founded in 1993 and is headquartered in Stamford, CT.

AT&T, Inc. is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, Latin America and Xandr. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally. The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content over various physical and digital formats. The Latin America segment provides entertainment and wireless services outside of the U.S. The Xandar segment provides advertising services. The company was founded in 1983 and is headquartered in Dallas, TX.

Verizon Communications, Inc. is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments. The Consumer segment provides consumer-focused wireless and wire line communications services and products. The Business segment offers wireless and wire line communications services and products; video and data services; corporate networking solutions; security and managed network services; local and long distance voice services; and network access to deliver various Internet of Things (IoT) services and products. The company was founded in 1983 and is headquartered in New York, NY.

Key Stats and Financials As of 2019
Market Capitalization
$730M
Total Enterprise Value
$2.36B
Earnings Per Share
$2.46
Revenue
$721M
Net Profit
$186M
EBITDA
$317M
EBITDAMargin
44.02%
Total Equity
$-459M
Enterprise Value Sales
3.28x
Enterprise Value EBITDAOperating
7.44x
TEVNet Income
12.69x
Debt TEV
0.43x
Total Debt
$1.02B
Investments
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Overtime Sports, Inc. operates a mobile application that allows users to film highlights and add slow-mo to capture the best moments in a sporting event. The company was founded by Daniel Porter and Zach Weiner in 2016 and is headquartered in Brooklyn, NY.

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Jaunt, Inc. provides an end-to-end solution for creating cinematic VR experiences. The company has developed an integrated suite of hardware and software tools to produce the cinematic content. Its technology combines computational photography, statistical algorithms, massively parallel processing, cutting-edge hardware and virtual reality. The company was founded by Tom Annau, Jens Christensen and Athur Anthonie van Hoff in 2013 and is headquartered in San Mateo, CA.

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DraftKings, Inc. provides online daily and weekly fantasy sports contests for cash prizes. The firm's games are structured under salary cap format and new contests are offered every day with instantaneous payouts. Its sports competitions are held across baseball, football, basketball, and hockey. The company was founded by Jason Robins, Paul Liberman, and Matthew Kalish in 2011 and is headquartered in Boston, MA.

Suppliers
AMC Networks, Inc. Internet Software & Services | New York, New York

AMC reigns as the only cable network in history to ever win the Emmy® Award for Outstanding Drama Series four years in a row, as well as the Golden Globe® Award for Best Television Series - Drama for three consecutive years. Whether commemorating favorite films from every genre and decade or creating acclaimed original programming, the AMC experience is an uncompromising celebration of great stories. AMC’s original stories include Mad Men, Breaking Bad, The Walking Dead, The Killing and Hell on Wheels. AMC further demonstrates its commitment to the art of storytelling with its slate of unscripted original series, as well as curated movie franchises like AMC’s Can’t Get Enough and AMC’s Crazy About. AMC is owned and operated by AMC Networks Inc. and its sister networks include IFC, Sundance Channel and WE tv. AMC is available across all platforms, including on-air, online, on demand and mobile. AMC: Story Matters HereSM.

The National Hockey League News & Digital Content | New York, NY

The National Hockey League operates as a professional ice hockey league. It governs the games, sets and enforces rules, regulates team ownership and collects licensing fees for merchandise. The company was founded on November 26, 1917 and is headquartered in New York, NY.

Buffalo Bills Recreation & Leisure | Orchard Park, NY

Buffalo Bills, Inc. owns and operates a professional American football franchise. The firm manages a team and markets sports merchandise, match tickets and collectable game items. The company was founded in October 1959 and is headquartered in Buffalo, New York.

Competitors
Netflix, Inc. Entertainment - Los Gatos, CA

Netflix, Inc. is a streaming entertainment service company, which provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting solely of streaming content to its members in the United States. The International Streaming segment includes fees from members outside the United States. The Domestic DVD segment covers revenues from services consisting solely of DVD-by-mail. The company was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA.

Fox Corp. Cable, Satellite, and Radio Telecommunications - New York, NY

Fox Corp. delivers compelling news, sports and entertainment content. The company provides news under the brands FOX News, FOX Business, FS1, FS2, Big Ten Network, FOX Network and FOX Television Stations. It empowers a diverse range of creators to imagine and develops culturally significant content, while building an organization that thrives on creative ideas, operational expertise and strategic thinking. The company was founded on May 3, 2018 and is headquartered in New York, NY.

Amazon.com, Inc. Retail: Other - Seattle, Washington

Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.

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