Does a recent MSGN short represent a top in cable content pricing power? The proposed AT&T / Time Warner merger, which in part centers on the continued high value of premium media content, comes as Engle Capital Management, a hedge fund founded by former Scout Capital partners, has an alternative viewpoint of sorts. Jeff Helman’s $186 million hedge fund looks at the “content is king” moat and in the case of MSG Networks (MSGN) and doesn’t like the thesis. There are limits to how far the king can push. MSGN short hurting Engle for now, as Heiman thinks sports programming…
Engle Capital Short On MSG Networks Inc (MSGN) Hurts Portfolio
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.