Ben Mogil, Analyst at Stifel Nicolaus & Co., recently downgraded MSG Networks Inc (MSGN). He says the downgrade reflects his view that the regional sports channel is one of the three in the market that does not have full-year programming.
“So it is very vulnerable as people drop down service levels,” he says.
There is a segment of the population that doesn’t want sports, Mogil says. But, he says there is also a segment that is happy to get sports, but doesn’t want to watch the Rangers or Knicks, but wants to watch another local team.
“So one of the challenges in a market like New York, where you’ve got three different sports networks, is that there are many people who get the network who either don’t care about sports or about these particular teams,” Mogil says. “We think in that environment that’s a channel which is pretty vulnerable.”
Bullish Outlook on Lions Gate (LGF) and Madison Square Garden (MSG) Due to Strong Content, I.P.
November 21, 2012
Primary Energy Recycling Corporation (TSE:PRI) Generates Electricity from Waste Heat to Reduce Costs
May 15, 2013
Insulet Corporation (PODD) to Release Insulin Pump for People With Type II Diabetes in 2015
March 24, 2014
Matrix Service Company’s (MTRX) Infrastructure Service Backlog Increases as the Oil and Gas Chain Restructures
November 26, 2012
