Knicks’ $85 Million Broadcaster Merger Settlement Greenlit (2)

A Delaware judge on Monday approved two separate multi-million-dollar settlements to resolve investors’ claims over a 2021 merger that combined the billionaire James Dolan’s Madison Square Garden Entertainment Corp. with the company that broadcasts games for the NBA’s New York Knicks.

The deals—one for $85 million, and the second for $48.5 million—were “fair and reasonable,” Vice Chancellor Lori Will of the Court of Chancery said.

The lawsuits claimed Dolan designed the merger to benefit his family members, which were the controlling stockholders of each firm being combined, at the expense of other shareholders. Dolan has said the merger ...