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MSG Networks Negotiates $514 Million of Debt Forgiveness

Sphere Entertainment subsidiary MSG Networks lightened its debt loan while reducing fees it pays to air New York Knicks and New York Rangers games.

The news provided a bounce to Sphere Entertainment’s share price, which has fallen sharply since President Trump announced his global tariff policy on April 2. Sphere Entertainment Group and its subsidiaries will not be obligated to fund the borrowings of MSG Networks’ new term loan or pledge its assets as security. MSG Networks first announced in October it was attempting to refinance its term loan and had entered into a forbearance with its lenders.

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