Reported 3 days ago
Steve Cohen, owner of the New York Mets, has expanded his stake in Sphere Entertainment, purchasing over 400,000 additional shares through his Point72 Asset Management hedge fund, which now owns a 7.3% stake. This move comes as MSG Networks, a subsidiary of Sphere, faces significant debt negotiations, with $829 million due. Analysts indicate that resolution of MSG Networks' debt situation could significantly impact Sphere's stock value.
Source: YAHOO