MSG Networks Is Said to Weigh Tie-Up With MSG Entertainment (1)

MSG Networks Inc., which owns the cable channel that airs New York Knicks basketball games, is considering a merger with Madison Square Garden Entertainment Corp., according to people familiar with the matter, potentially recombining two pieces of the Dolan family entertainment empire.

MSG Networks is working with advisers to explore a merger with the owner of the iconic Madison Square Garden arena in New York City, said the people, who asked to not be identified because the matter isn’t public.

Deliberations are in early stages and may not lead to a deal.

The deal would mark a turnabout ...