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Music could be key for MSG

The sports network has an overlooked growth driver with its music channel, according to Macquarie, which initiated coverage with a neutral rating. Madison Square Garden (MSG), which has an IBD Composite Rating of 99, a Relative Strength rating of 90 and an EPS Rating of 90, owns the sport arena of the same name, as well as the NBA's Knicks, the NHL's Rangers and two regional sports networks. But its Fuse TV, music channel launched in '08, could be its next leg for growth, the research firm noted. MSG hosted the huge 12-12-12 Concert on Wed. Shares rose 1.4% to 44.91.