Wall Street is bullish on the New York Knicks owner today as shares of the Madison Square Garden Company rose 9% in pre-market trading. Profits for the fourth quarter tripled to $28.6M or 37c a share, beating Wall Street estimates. Fiscal 2012 revenues grew 8% to $1.3B, lifted primarily by the group’s MSG Sports and MSG Media units. The Sports arm owns The Knicks and The New York Rangers. MSG Media’s properties include the MSG TV networks and music channel Fuse. In the MSG Entertainment branch, which produces live shows including the Radio City Music Hall Christmas Spectacular, revenues were up 41%. But for the fiscal year, revenues in the division were down 10% with operating cash flow and operating loss both improved.
Madison Square Garden Triples Profits; Media & Sports Outperform Entertainment
What's Hot on Deadline
Dinos Inch Out 'Inside Out' For No. 1 At Lackluster July 4th B.O.; 'Terminator' Falls In U.S., Rises Abroad - Sunday B.O.
Bart & Fleming: Judd Apatow's Promo Push; Harper Lee's 'Watchman'; Hot Dog Eating And 'Magic Mike XXL'
Diana Douglas Dies: Actress, 92, Was Kirk Douglas' First Wife And Mother of Michael And Joel Douglas