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Sphere Entertainment’s activities sites arm, MSG Networks, owes loans$ 829 million. They’re also talking it through.
Photo by Eliot J. Schechter/NHLI via Getty Images

MSG Networks and its Wall Street lenders have come to an agreement to expand their conversations over$ 829 million in debt, which was originally scheduled to have been paid off in October, until January.
MSG Networks, a section of Sphere Entertainment, and its bond buyers extended the forbearance time until evening of Jan. 31. The term mortgage of$ 829.1 million was initially due in mid-October, but Subject and its creditors agreed to extend the negotiation period until December and then once more until January 10. The new partnership, disclosed in a regulation filing Friday night, gives the events more time to work out a solution.
MSG Networks, a regional sports network with the information of all four New York and New Jersey NHL team as well as the NBA’s Knicks, is under economic strain as a result of the large-term product being owed and losing carriage by Optimum, a sizable cable company owned by Altice USA, at the end of 2024.

As customers stop paying for wire and instead choose to flow, MSGN is navigating an atmosphere where the fixed expenses paid by cable networks are decreasing.
Traders in Sphere, who are primarily known for running the renowned Las Vegas theatre of the same name, are in a high interest in the fate of the MSG debt. According to Wall Street analysts, Sphere could benefit from getting debtors to accept less than the$ 829 million face price or launching a Chapter 11 bankruptcy reform, which gives the business to its creditors. A similar scenario played out over the past two years when Sinclair Inc. put its RSN company, Diamond Sports Network, into Book 11, removing that business ‘$ 8.6 billion in debt from its books. As with Sinclair, the RS N’s bill is owed entirely by the MSG arm—creditors doesn’t make a claim on Sphere, even though it is the business family.
According to the prolonged patience processing on Friday, MSG Networks has$ 4.1 million in curiosity payments to make on the outstanding balance. Despite the discussions over the death of the loan principal, MSG hasn’t missed paying interest on its product.

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