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Cablevision: Good Sports?

August 8th, 2007, filed by Franklin Paul

Reuters File PhotoTime out for a sports story.

After all, pro sports teams are more than just scores and images on a TV screen — in many cases they are strategic pieces of a media conglomerates master plan. (e.g., Tribune owns the Cubs, Liberty Media has the Atlanta Braves, etc.)

If you are a frustrated New York Knicks fan, you know that the team hasn’t had a winning season in 6 years, and hasn’t reached the NBA playoffs since 2004. That means fewer playoff tickets revenue for team owners Cablevision, not to mention lost advertising revenue on its MSG Network cable station, and none of the beautiful people sitting on the sidelines of games.

Chin up! The company said in the second quarter, it scored higher combined revenue for the Knicks and Rangers (Hockey Team, which made the playoffs) and higher adjusted operating cash, thanks to Rangers ticket sales and lower spending on team personnel.

Cablevision executives, on a conference call suggested the best is yet to come, especially with addition of new player Zach Randolph — who missed the end of the ‘06-’07 season after undergoing surgery to repair ligaments and remove bone fragments in his right hand.

“Both the Knicks and Rangers continue to build on their strategy for long-term success. The Knicks sold out 17 of their last 20 regular season games….
We expect these trends to continue for the upcoming season.”

In the end, profits are up, but will long suffering Knicks fans have to wait a little longer to get a taste of the playoffs?

Copyright Reuters. This entry was posted on Wednesday, August 8th, 2007 at 6:39 pm and is filed under Text, MediaFile. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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« Threat of duct tape needed to keep El Paso CEO quiet
It’s too darn hot! Or is it? »