Knicks Broadcaster Scores Lifeline from Lenders in Debt Revamp

MSG Networks Inc. has reached an agreement with lenders to restructure its debt load, averting a potential bankruptcy filing for the James Dolan-led sports broadcaster while handing creditors potential sharp losses.

The firm, loan agent JPMorgan Chase & Co. and consenting lenders agreed to replace MSG Networks’ existing credit facilities with a $210 million term loan maturing in December 2029, according to a filing Friday from parent company Sphere Entertainment Co. Interest will be five percentage points over the Secured Overnight Financing Rate.

Consenting lenders could receive as much as $100 million more after the new loan is paid ...