Madison Square Garden
Madison Square Garden (NYSE:MSG) is another clear loser when it comes to the lockout. It owns the New York Rangers, its venue (duh) and the Madison Square Garden network, which airs the team’s games.
In order to take in revenue from any of those things — whether through ticket sales, advertising, concessions or merchandise — well, some hockey games gotta be played.
Just digest these numbers: Last fiscal year, MSG brought in around $1.3 billion total. In 2011, the Rangers accounted for $169 million of that. And in early October, one analyst predicted that a completely canceled hockey season would cost the company at least $78 million.
That’s not to say Madison Square Garden — and the other companies for that matter — don’t have other avenues for profit, but it would undoubtedly be resting easier if the NHL went about its business as usual.