Join the NASDAQ Community today and get free, instant access to portfolios, stock ratings, real-time alerts, and more! Madison Square Garden is one of the busiest and most prestigious venues in the world, and it's only fitting that the arena's owners, The Madison Square Garden Company MSG , have grown to be one of the most notable sports, entertainment, and multimedia companies on the market today.

Following a separation from Cablevision in , MSG now operates three separate entities, with ownership ranging from sports teams to cable television networks. One of the entities, MSG Sports, manages several professional sports teams, including the NBA's New York Knicks and the NHL's New York Rangers. The Knicks and the Rangers both play their home games in Madison Square Garden, along with the WNBA's New York Liberty, another MSG owned team. The MSG Company also owns several minor professional sports teams throughout the Northeast.

The MSG Company also operates MSG Media. MSG Media manages all of the company's cable television outlets, including MSG and MSG Plus, which function as regional channels. The company also owns Fuse, a nationwide channel that is dedicated entirely to music. MSG Entertainment is the final entity of the MSG Company, which operates all of the live events at the various properties around the country.

In New York, this includes The Garden, The Beacon Theater, and Radio City Music Hall. MSG also owns the Chicago Theater, the Wang Theater in Boston, and The Forum in Los Angeles. Reasons to buy Now is an interesting time for MSG stock for a variety of reasons.

Zacks has highlighted some of these factors, and investors should take note of what could be a profitable situation. Upcoming split Pending a few final details, the Madison Square Garden Company is planning on splitting the business into two completely independent corporations. Instead of operating as three entities, the two companies will each take on different aspects of the existing MSG Company, with one taking over sports and entertainment and the other focusing on media.

The good news here for shareholders is that shares will be divided up equally, but the companies will be able to maximize their own value while separated. If today's investors in MSG can take advantage of their equal shares in the new companies, they stand to profit when those companies grow. Growing value in sports Part of the reason that analysts think the upcoming separation will increase overall value is the possibility that it will allow executives to streamline their management and unlock the true value of different areas of the company.

MSG's two main sports teams, the Knicks and Rangers, both stand to benefit from this, as their values have already skyrocketed in the past few years. The New York sports market is absolutely massive, and although the Knicks and Rangers have both been historically mediocre, they've always capitalized. However, the Rangers have seen success lately, reaching the Stanley Cup Finals and Eastern Conference Finals in consecutive years. The Knicks have remained disappointing over the past few years, and although stars like Carmelo Anthony and coach-turned-executive Phil Jackson are at the helm, the future doesn't look too bright for the team's success on the court.

However, as a business, they have been able to capitalize on the surging popularity of the NBA. Numbers don't lie MSG currently holds a Zacks Rank 2 Buy , and recent trends indicate that now could be a good time for investors to get into this company.

In the last 60 days, 3 positive earnings estimate revisions have been made for the remainder of the current quarter, and 2 positive revisions have been made based on earnings on a yearly basis. These numbers are indicating that MSG could very well be a winner right now. Bottom Line The MSG Company is an interesting business that gives investors a foothold in sports, entertainment, and media. This stock alone has a diversity that some portfolios can't even match.

Throw in a pile of generally good news, and investors could be in for a treat.

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If analysts are right about the effect MSG's separation will have, and if valuations for the company's sports holdings continue to climb, this stock might just be a great buy. Regardless, trends in EPS estimates are pointing to a good future for MSG. Investors may want to consider buying a courtside ticket at The Garden and buying stock in MSG now. Want the latest recommendations from Zacks Investment Research?

Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MADISON SQUARE MSG: Free Stock Analysis Report To read this article on Zacks.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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