Four Firms Help Reconnect Madison Square Garden, Cable Network

Debevoise & Plimpton is advising the Dolan family, which owns Madison Square Garden Entertainment Corp., on the company’s plan to buy back the cable network that broadcasts New York Knicks games.

Davis Polk & Wardwell is advising a board of directors special committee for the cable operator, MSG Networks Inc.

The all-stock purchase announced March 26 partly reverses Knicks owner James Dolan’s spinoff a few years ago of the Madison Square Garden Co. into a handful of smaller companies. Dolan is the leader of the family that owns Madison Square Garden Entertainment.

The transaction is expected to be tax-free for ...