Owns the New York Knicks and Rangers pro sports teams, selling tickets, media rights, and merchandise around their games.
Money comes from NBA/NHL team operations, with revenue of USD 1.15B but thin net margin of 0.67%—mostly recurring league media deals and game-day sales.
League franchises are scarce, government-protected assets; no competitor can start a rival NBA or NHL team. Moat is solid, though player costs squeeze margins.
