MSG Networks, the embattled cable TV station that airs New York Knicks and Rangers games, is in talks to reach a deal to avoid bankruptcy as soon as Friday — and insiders speculate that help could be coming from a deep-pocketed media player like Amazon, The Post has learned.
The sports channel controlled by billionaire Knicks owner James Dolan — currently blacked out for about 1 million New York-area subscribers because of a contract dispute with the Optimum cable network — is scrambling to restructure its debt with a group of lenders led by JPMorgan who are owed $829 million.
MSG Networks in October defaulted on its loans but lenders have extended the payment deadline multiple times, most recently from Jan. 10 to Friday at midnight. This time, the aim is to reach a deal rather than simply extend the deadline again, according to sources briefed on the discussions.
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