Dec 8, 2017

MSG Networks Inc. Announces $150 Million Stock Repurchase Program

NEW YORK, Dec. 08, 2017 (GLOBE NEWSWIRE) -- MSG Networks Inc. (NYSE:MSGN) today announced that its Board of Directors has authorized a stock repurchase program, under which the Company may repurchase up to $150 million of its outstanding Class A common stock.  

President and CEO Andrea Greenberg said: “Today’s announcement reflects our confidence in the strength of our business and in our ability to continue generating strong financial results.  With our robust free cash flow generation, we believe we can maintain our financial flexibility and strong balance sheet, while simultaneously delivering on our ongoing commitment to create value for shareholders through this stock repurchase program.”

The size and timing of stock purchases will be determined based on market conditions and other factors.  The repurchase program has no expiration date and may be discontinued at any time.  As of October 31, 2017, there were 61,646,874 Class A common shares outstanding.

About MSG Networks Inc.
An industry leader in sports production, and content development and distribution, MSG Networks Inc. owns and operates two award-winning regional sports and entertainment networks, MSG Network (MSG) and MSG+, and a live streaming and video on demand platform, MSG GO. The networks are home to 10 professional sports teams, delivering live games of the New York Knicks; New York Rangers; New York Islanders; New Jersey Devils; Buffalo Sabres; New York Liberty; New York Red Bulls and the Westchester Knicks, as well as coverage of the New York Giants and Buffalo Bills.  Each year, MSG and MSG+ collectively telecast approximately 500 live professional games, along with a comprehensive lineup of other sporting events, including college football and basketball, and critically-acclaimed original programming.  The gold standard for regional broadcasting, MSG Networks has won 162 New York Emmy Awards over the past ten years.  

This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the Company and its business, operations, financial condition and the industry in which it operates and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein.

Contacts:

Kimberly Kerns

Communications

(212) 465-6442 

 
                Ari Danes, CFA

Investor Relations

(212) 465-6072 

 

 

 

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Source: MSG Networks Inc.

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