MSG Buy of Townsquare Stake Draws Analyst Cheers
Madison Square Garden's buy of 3.2 million shares, or 12 percent, of Townsquare from GE Capital won some analyst praise Wednesday after the deal was disclosed. It's “a strategic move,” Noble Financial emailed investors. The investment could allow MSG to…
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expand its live events business into smaller markets and help with Townsquare sponsorships, Noble said. "Townsquare can leverage MSG's sales capacity and broadening geographic presence," emailed Macquarie Capital of what it called an approximately $30 million "summer shocker move."