MSG Posts Q3 Numbers, Sports Division Impacted By NHL Lockout
MSG today reported Q3 financial results, highlighted by its net income increasing 24% to $38.4M from the year-ago period. Revenue during the quarter ended March 31 grew 3% to $412.4M, primarily due to an increase in revenues in the MSG Media segment and partially offset by a decrease in revenues in the MSG Sports segment. MSG Media revenues grew 11% to $184.7M and affiliation fee revenue increased $16.8M. MSG Sports revenues decreased 4% to $208.1M, largely the result of the shortened NHL regular season (MSG).