Look at the prices stamped on the ticket to a New York Knicks or Rangers game, and you'd be hard-pressed to believe what one activist shareholder is asserting: that Madison Square Garden is undervalued. MSG is the corporate owner of those vaunted sports franchises, as well as television programming operations like the MSG Network and sports venues like its iconic world's most famous arena and the Radio City Music Hall. Values for sports franchises have been soaring lately, as evidenced by the $2 billion sales price of the Los Angeles Clippers. At the same time, sports programming has become increasingly important to broadcasters and cable operators.
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