Parent Of Jennifer Lopez’ NuvoTV Agrees To Buy Fuse From MSG

NUVOtv and Chief Creative Officer Jennifer Lopez Present 2013-2014 Programming Slate at NYC Upfront PresentationSiTV Media agreed to pay $226M — and give MSG a 15% stake — the entities disclosed this morning. The total value of the cash plus equity comes to about $275M, Stifel analyst Benjamin Mogil estimates. In any event, the company where Jennifer Lopez is a shareholder and Chief Creative Officer outbid an offer from Sean Combs said to be around $200M. Fuse reaches 73M pay TV subscribers, and should boost SiTV and NuvoTV — a Latin American entertainment network that reaches about 34M homes. With Fuse “we’ll have the ability to deliver a broad array of terrific content both from a Latino perspective and across multiple genres, including music, to a broader audience,” Lopez says. “The acquisition of Fuse means we now own two wonderful assets. It’s a phenomenal time for our company and we look forward to growing both networks in the years ahead.” SiTV CEO Michael Schwimmer adds that the deal “enhances our distribution relationships, dramatically expands our aggregate subscriber base, provides substantial economies of scale, affords unique opportunities for programming and cross-promotion and should be extremely appealing to the advertising community as we roll out our plans for both NuvoTV and Fuse.” Read More »

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MSG Entering Into Strategic Deal With Tribeca Enterprises

tribeca1UPDATE, 3:25PM:  Madison Square Garden Company is buying a 50% stake in Tribeca Enterprises at $45 million, both companies have confirmed.  CEO and co-founder Jane Rosenthal will continue to lead Tribeca along with President and COO Jon Patricof. For MSG, the upside is Tribeca’s content, not to mention an entry into the film festival business, while Tribeca will benefit from MSG’s marketing and promotional expertise and platforms. It also puts Tribeca in a position to expand its film festival brand and programs in New York and nationally. In the future, MSG will have the opportunity to up its share in Tribeca.

PREVIOUS BREAKING, SATURDAY 2:41PM:  Madison Square Garden Company is making a strategic investment in Tribeca Enterprises — which includes Tribeca Film Festival. MSG is taking a substantial position in Tribeca. We are told MSG’s investment is at least $20 million-plus, upwards of $45 million.  MSG and Tribeca are two of the best-known Gotham-based entertainment brands. The Tribeca Film Festival attracted 450,000 attendees last year at $550 a pop for top tier passes and $350 for second tier tickets. The fest is said to generate $750 million in economic activity for New York City. We are told that Tribeca Productions, which was founded by Robert De Niro and Jane Rosenthal in 1989, is not part of the deal.

Related: MSG Teams With Irving Azoff on New Entertainment Venture Read More »

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Will MSG Benefit Now That Phil Jackson Is Running The Knicks?

By | Tuesday March 18, 2014 @ 4:47pm PDT

Jackson DolanLoud noises on both coasts — hosannas in New York, wails of despair in Los Angeles — are coming from basketball fans today after Phil Jackson was hired as president of the New York Knicks. But the move isn’t just about games. Investors wonder whether the Zen master, coach of 11 NBA champions, star player on two others, will help not just the Knicks but also its parent the Madison Square Garden Company?

NY-Knicks-logo__140318201825Executive Chairman Jim Dolan, whose family controls MSG as well as Cablevision and AMC Networks, introduced his new team president at a news conference this morning at the Garden. He says his pal Irving Azoff — the longtime personal manager (Eagles, Steely Dan, Christina Aguilera) and CEO of recently launched partnership Azoff MSG Entertainment – introduced him to Jackson in December at a party at his house.

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Sean Combs Offers $200M For Fuse TV: Report

Fuse_logoThe performer who now just calls himself Diddy would use the music channel to boost distribution for his Revolt TV, another music service that launched in October, Bloomberg reports citing “three people with knowledge of the situation.” … Read More »

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MSG Puts Fuse On the Block

This should relieve investors who feared that Madison Square Garden Executive Chairman Jim Dolan‘s decision to invest $125M in an entertainment partnership with music manager Irving Azoff would leave the Read More »

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Irving Azoff Teams With Jim Dolan’s Madison Square Garden In New Entertainment Venture

By | Wednesday September 4, 2013 @ 3:00pm PDT

The longtime music manager will be CEO of Azoff MSG Entertainment, which vows to develop “artist-friendly and, as a result, fan-friendly projects” in music, TV, and digital media. Irving Azoff will own 50% by folding in Azoff Music Management, where he’ll continue to handle clients including the Eagles, Steely Dan, Van Halen, and Christina Aguilera. Madison Square Garden will kick in $125M for its 50% and will provide as much as $50M in revolving credit loans. Outside of music management, Azoff and MSG Executive Chairman Jim Dolan see themselves largely as a source of venture capital. “We don’t know what the next big thing is going to be, but we want our phone to ring so we get a chance to help find it and nurture it,” Azoff tells me. “This was a dream we had to have a place where we could move quickly.”

Related: Madison Square Garden Plans $100M Revamp Of The Forum
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Madison Square Garden Plans $100M Revamp Of the Forum In Inglewood

MSG says that the Forum, which it bought in 2012, will reopen January 15, 2014 with a performance by The Eagles following the upgrade. “Since we first explored the opportunity to acquire the Forum and expand The Madison Square … Read More »

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Madison Square Garden Sells Stake In Live Nation Entertainment

By | Tuesday March 12, 2013 @ 6:59am PDT

This isn’t a complete surprise following the announcement late last month that Madison Square Garden Executive Chairman Jim Dolan resigned from the Live Nation board. MSG had 3.9M Live Nation shares — about 2% of the … Read More »

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Madison Square Garden Beats Fiscal Q1 Forecasts But Sheds No Light On News

By | Friday November 2, 2012 @ 5:31am PDT

I guess we’ll have to wait for the company’s conference call with analysts to find out how it’s been impacted by the NHL lockout, Dish Network’s new agreement to carry its Fuse music channel — or Hurricane Sandy. No mention … Read More »

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Madison Square Garden Triples Profits; Media & Sports Outperform Entertainment

By | Friday August 24, 2012 @ 6:11am PDT

Wall Street is bullish on the New York Knicks owner today as shares of the Madison Square Garden Company rose 9% in pre-market trading. Profits for the fourth quarter tripled to $28.6M or 37c a share, beating Wall … Read More »

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