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NBC LOOKS INTO MSG
Published September 13, 1994
NBC retains an option to buy a "significant minority stake" in Madison Square Garden as part of the ITT Corp/ Cablevision Systems acquisition of MSG holdings from Viacom. NBC signed off on Cablevision's investment and "could decide as soon as October whether to join the MSG partnership." One exec close to the deal says "NBC's involvement would significantly enhance the value of MSG to its new owners" and that ITT/Cablevision would benefit from the experience of NBC Sports. The joint venture could also help NBC's portfolio, "especially its flagship TV station," WNBC-NY. NBC's stake in MSG could lead to a combined broadcast and cable TV schedule that would put certain games on WNBC and others on cable (Joe Mandese, ADVERTISING AGE, 9/12 issue).