---
schema_version: "secwatch.filing_event.v1"
accession: "0001636519-25-000020"
form_type: "8-K"
ticker: "MSGS"
cik: "0001636519"
company_name: "Madison Square Garden Sports Corp."
filed_at: "2025-05-02T23:59:59+00:00"
generated_at: "2026-05-22T22:50:27.174468+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MSGS Q3 revenue falls 1%, operating income plunges 59% on fewer games and lower media fees

## Summary
- Revenue $424.2M, down 1% YoY; operating income $32.3M, down 59% from $79.7M.
- Adjusted operating income $36.9M, down 58% from $88.7M; two fewer Knicks/Rangers home games.
- Results reflect expected reductions in local media rights fees from proposed amendments to MSG Networks agreements.
- Knicks finished regular season and are in NBA playoffs; season ticket renewal for 2025-26 saw strong demand to date.

## SEC filing metadata
- accession: 0001636519-25-000020
- form_type: 8-K
- ticker: MSGS
- cik: 0001636519
- company_name: Madison Square Garden Sports Corp.
- filed_at: 2025-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636519/000163651925000020/0001636519-25-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636519/000163651925000020/msgs-20250502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001636519-25-000020
- JSON: https://secwatch.observer/filing/0001636519-25-000020.json
- Plain text: https://secwatch.observer/filing/0001636519-25-000020.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.