Sphere Entertainment Stock Drops as Firm Says MSG Networks Bankruptcy Possible | Global News Avenue

Sphere Entertainment shares (SPHRThe company reported a second-quarter revenue decline on Monday after sliding on Monday and said its MSG network unit could go bankrupt if it could no longer repay its debt.

Sphere, which operates the concert and entertainment sector of the same name in Las Vegas, fell 2% year-on-year to $308.3 million, although it is higher than the visible Alpha estimate. The company lost $3.49 per share, which is more than analysts expected to suffer a loss of $1.

While revenues for the Sphere venues rose 1% to $169 million, the company’s MSG Networks division fell 5% to $139.3 million. Sphere Entertainment said that if the debt of the Regional Sports Network that expires on October 11 cannot be refinancing, “MSG Network and/or its subsidiaries may seek bankruptcy protection, otherwise lenders will cancel the credit line of mortgage facilities on the MSG Network.”

Sphere Entertainment shares fell more than 5% to $41.43 on Monday. They are Reduced by nearly 7% Over the past 12 months, it has risen about 2.7% since the beginning of 2025.