Summarize this content to 2000 words in 6 paragraphs in Arabic <\/p>\n
MSG Networks\u00a0on Friday announced a\u00a0deal with its lender JPMorgan that\u00a0allows\u00a0the regional sports channel to avoid bankruptcy \u2014 and potentially pave the way for a merger with the YES Network.<\/p>\n
Under terms of the\u00a0out-of-court debt restructuring, MSGN \u2014 which carries the Knicks, Rangers, Islanders, Devils, Sabres and Gotham FC \u2014\u00a0slashes a\u00a0JPMorgan loan to $210 million from more than $800 million.<\/p>\n
In exchange, Knicks owner James Dolan \u2014 whose Sphere Entertainment owns and controls MSGN \u2014\u00a0has agreed to reduce the rights fees that MSGN pays the Knicks and Rangers, increasing the network\u2019s ability to make its interest payment, the sources said.<\/p>\n
Sphere\u2019s shares on Friday were recently up 10% at $29 on the news. The company confirmed the news, which was exclusively reported by The Post on Thursday, in securities filings before the market open.<\/p>\n
MSG and YES \u2014 which airs the Yankees and Brooklyn Nets \u2014 now partner on the Gotham Sports App, with access to both networks costing $41.99 a month. Customers can also elect to pay $29.99 a month for MSG or $24.99 a month for YES.<\/p>\n
MSGN had faced a deadline at midnight Monday to avoid\u00a0bankruptcy, and got an extension to Thursday as the network and bank feverishly tried to hammer out a truce.<\/p>\n
After the JPMorgan restructuring, Dolan is likely to start marketing MSGN for sale, sources said. With this new lighter debt package\u00a0and lower media rights fees, Dolan hopes to have an easier time finding a buyer.<\/p>\n
The cable network\u00a0was\u00a0losing\u00a0money partly because it paid $187 million in 2025 to broadcast Knicks and Rangers games as part of a 20-year agreement that\u00a0ended\u00a0in 2035, according to public filings.<\/p>\n
On the open market, a cable network would pay considerably less for those rights due to cord-cutting, sources said.<\/p>\n
Now, the Knicks fees get reduced by 28% and the media contract only runs until the end of the 2028-29 season, and the Rangers fees get reduced by 18% and also end after 2028-29, according to Friday\u2019s public filing.<\/p>\n
The separately traded\u00a0Madison Square Garden Sports that owns the Knicks and Rangers gets a 19.9% stake in MSG Networks in return.\u00a0<\/p>\n
MSGN\u00a0had\u00a0been in default since October but\u00a0had\u00a0not been put in bankruptcy.<\/p>\n
JPMorgan was in a tough spot, since if it put MSG Networks in bankruptcy, the MSGN media rights contract with the Knicks and Rangers could have been terminated, and if a third party then negotiated for those rights, MSGN without them would have been nearly worthless.<\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic MSG Networks\u00a0on Friday announced a\u00a0deal with its lender JPMorgan that\u00a0allows\u00a0the regional sports channel to avoid bankruptcy \u2014 and potentially pave the way for a merger with the YES Network. Under terms of the\u00a0out-of-court debt restructuring, MSGN \u2014 which carries the Knicks, Rangers, Islanders, Devils,<\/p>\n","protected":false},"author":1,"featured_media":290694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":{"0":"post-290693","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/290693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=290693"}],"version-history":[{"count":1,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/290693\/revisions"}],"predecessor-version":[{"id":290695,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/290693\/revisions\/290695"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media\/290694"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=290693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=290693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=290693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}