MSG Networks nears deal to skirt bankruptcy: | Gossip Wire

MSG Networks is nearing a deal with its lender JPMorgan that can enable the regional sports activities channel to keep away from chapter — and probably pave the way in which for a merger with the YES Network, The Post has discovered.

Under phrases of the deal, MSGN — which carries the Knicks, Rangers, Islanders, Devils and Sabres and Gotham FC — will win a debt refinancing wherein JPMorgan agrees to cut back it to round $600 million from a present invoice of roughly $800 million, sources close to the talks mentioned.

In exchange, Knicks proprietor James Dolan — whose Sphere Entertainment owns and controls…