Madison Square Garden Sports, the parent company of the Knicks and Rangers, is facing an uncertain media rights future, as broadcast partner MSG Networks has been scrambling to avoid bankruptcy.

Madison Square Garden Sports Corp. ( NYSE: MSGS) Q2 2025 Earnings Conference Call February 4, 2025 10:00 AM ET Ari Danes - Senior Vice President of Investor Relations Jamaal Lesane - Chief Operating Officer Victoria Mink - Executive Vice President, Chief Financial Officer and Treasurer

Madison Square Garden Sports was squeezed by a jump in operating expenses in the latest quarter despite the professional sports company benefiting from a rise in ticket and merchandise sales and the New York Knicks' and New York Rangers' early-season roster.

NEW YORK (AP) — NEW YORK (AP) — The Madison Square Garden Co. (MSGS) on Tuesday reported fiscal second-quarter net income of $1.1 million. On a per-share basis, the New York-based company said it had net income of 5 cents.

Lesane expressed confidence in the long-term value of owning marquee sports franchises despite challenges in the RSN ecosystem. He indicated that MSG Networks has approached the company to renegotiate local media rights agreements, including a potential reduction in rights fees.

Madison Square Garden (MSGS) came out with quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.59 per share a year ago. These figures are adjusted for non-recurring items.