Benzinga | Oct 6, 2021 08:32AM EDT

MSG Networks Renews Multi-Year Agreement With Verizon Fios

* Madison Square Garden Entertainment Corp (NYSE:MSGE) completed a multi-year renewal of its distribution agreement with Verizon Communications Inc (NYSE:VZ) Verizon Fios. The financial terms of the transaction remain undisclosed.

* The new deal ensures Verizon Fios customers will continue to have access to MSG Networks and hundreds of exclusive, live games, including the New York Knicks, New York Rangers, as part of their Fios TV packages and through MSG GO.

* "Live sports remains some of the most valuable programming on air, and all of our teams have passionate fan bases. We look forward to providing our lineup of sports programming to Fios subscribers for years to come," said Adam Levine, EVP of Business Affairs for MSG Networks.

* Price Action: MSGE shares traded higher by 0.93% at $69.75 in the premarket session on the last check Wednesday.