MSGE - MSG Networks gains on report of potential deal with MSG Entertainment

MSG Networks (MSGN) rose 16% in after hours trading on a report that the company is considering a merger with Madison Square Garden Entertainment Corp. (MSGE).MSG Networks working with an adviser to consider recombining the businesses together, according to a Bloomberg report. MSG Networks owns the cable channel which airs New York Knicks games, while MSG Entertainment owns the arena in New York City.Recall Feb. 16, Madison Square Garden Entertainment cut at JPMorgan after recent run.Recall Feb. 5, MSG Networks rises 4.9% as Macquarie upgrades on profit beat.

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MSG Networks gains on report of potential deal with MSG Entertainment