In some surprising news, James Dolan is set to sell Cablevision to Altice, a European telecom giant. The deal will be for a whopping $17.7 billion. Yes, you read that number right.
It is worth noting that MSG Inc., which owns the Rangers, Knicks, Liberty, Wolf Pack, Madison Square Garden, and The Beacon Theater, is not included in this deal. MSG is a separately traded company, having been spun off from Cablevision in 2010. The Rangers will remain owned by James Dolan.