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MSG Networks Inc. (NYSE: MSGN) reported a 4% revenue decline to $177.9 million for the fiscal third quarter ended March 31, 2021, primarily due to a 7% drop in subscribers. Operating income fell 5% to $69.9 million, while net income decreased slightly by 1% to $45.6 million, reflecting the pandemic's effects on sports broadcasting schedules. Despite challenges, advertising revenue grew by $3.7 million, fueled by increased live sports telecasts. The company incurred $1.2 million in acquisition-related expenses amid plans to merge with Madison Square Garden Entertainment.
Madison Square Garden Entertainment Corp. (MSGE) plans to release its fiscal Q3 results on May 7, 2021. MSG Networks (MSGN) will also announce its Q3 results on the same day. Furthermore, MSGE intends to file a registration statement for a joint proxy statement regarding its acquisition of MSG Networks, with a joint investor presentation scheduled for the same date. A webcast discussing the acquisition is set for May 10, 2021, at 4:30 PM ET, featuring industry insights from Brandon Ross of LightShed Partners.
MSG Networks Inc. (NYSE: MSGN) will release its fiscal Q3 2021 financial results on May 7, 2021, before market opening. The financial report will cover the period ending March 31, 2021. Notably, MSG Networks will forgo an earnings conference call due to its pending acquisition by Madison Square Garden Entertainment Corp. This strategic move may influence investor sentiment and operational dynamics moving forward.
MSG Networks Inc. (NYSE: MSGN) announced the launch of a new free-to-play app, MSG Networks Pick ‘Em, in partnership with Boom Sports. Set to debut on iOS and Android in March, the app offers sports fans opportunities to win cash prizes during live games of teams like the Knicks and Rangers. MSG Networks aims to enhance viewer engagement through interactive gaming, building on previous success with trivia and pick’em games. The app represents MSG Networks' ongoing commitment to innovation and engagement in the sports media landscape.
MSG Networks Inc. (NYSE: MSGN) reported its fiscal second quarter results for 2021, ending December 31, 2020. The company generated revenues of $146.2 million, down 22% year-over-year. Operating income decreased by 6% to $65.7 million, while adjusted operating income fell 4% to $73.8 million. Net income, however, rose by 4% to $41.5 million, translating to a diluted EPS of $0.72. The decline in revenues was primarily due to fewer sports telecasts and a drop in affiliation fee revenue, influenced by a 7.5% decrease in subscribers.
MSG Networks Inc. (NYSE: MSGN) will host a conference call on February 4, 2021, at 10:00 a.m. ET to discuss its fiscal second quarter results, ending December 31, 2020. The Company will issue a press release reporting these results before the market opens. Interested participants can join the call by dialing 877-883-0832, using conference ID 7719946, or via webcast at investor.msgnetworks.com. A replay of the call will be available from 1:00 p.m. ET on February 4 until February 11, 2021.
MSG Networks Inc. (NYSE: MSGN) reported a 2% decline in revenues to $157.4 million for Q1 FY2021, compared to the previous year. Operating income decreased slightly to $67.9 million, and net income fell 19% to $35 million, with diluted EPS at $0.61. The drop in affiliation fee revenue was attributed to an 8.5% decrease in subscribers, despite increased advertising revenue from live sports. Direct operating expenses decreased by 5%, aiding operating income stability. The company continues to prepare for upcoming NBA and NHL seasons.
MSG Networks Inc. (NYSE: MSGN) will hold a conference call on November 2, 2020, at 10:00 a.m. ET to discuss its fiscal first-quarter results for the period ending September 30, 2020. A press release outlining these results will be issued prior to the market opening. Participants can join via telephone by calling 877-883-0832 with conference ID 4877072 or by accessing the webcast on their investor site. A recording will be available post-call until November 9, 2020.
MSG Networks operates top regional sports and entertainment networks in the New York DMA.
MSG Networks Inc. (NYSE: MSGN) reported its fourth quarter and fiscal year results for 2020, revealing a 10% decline in revenues to $152.1 million compared to the previous year. Despite this, operating income increased 18% to $83.1 million, with adjusted operating income also rising 18% to $90.5 million. The company's net income grew 36% to $55.9 million. For the full fiscal year, revenues fell 5% to $685.8 million. CEO Andrea Greenberg highlighted key achievements amidst the pandemic, including renewed affiliate agreements and strong free cash flow.
MSG Networks Inc. (NYSE: MSGN) will hold a conference call on August 13, 2020, at 10:00 a.m. ET to discuss its fourth-quarter and fiscal year results ending June 30, 2020. The earnings report will be released prior to market opening. Participants can join the call by dialing 877-883-0832 with the conference ID 3798172 or via webcast at investor.msgnetworks.com.
