The decision by MSG to spin off the Rangers and Knicks offers sizeable arbitrage potential. These two assets alone are worth an estimated $5.5 billion compared to the market cap of $6.4 billion. With sizeable other entertainment businesses including the iconic stadium and little debt it looks like good value. Most SOTP estimates but the valuation at about 25% premium to Fridays close.
This is not a recommendation to buy or sell. Stocks are not suitable investments for everyone. Please do your own research.
Submitted December 02, 2018 at 05:05AM by InterestingNews1 https://ift.tt/2Uc7LV0
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