Madison Square Garden Would Make Forum Its LA Venue

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(credit: Rick Stewart/Getty Images)

(credit: Rick Stewart/Getty Images)

LOS ANGELES (AP) — Analysts say Madison Square Garden Inc.’s pending purchase of the Forum outside Los Angeles would give the New York City company a solid outpost in the nation’s second most populous metro area.

Gabelli & Company Inc. analyst Christopher Marangi said Friday that owning the Forum would let Madison Square Garden book concerts across a block of venues nationwide, including its current properties in New York, Boston and Chicago.

Once known as the “Fabulous Forum,” the Inglewood arena was home to the NBA’s Lakers and the NHL’s Kings until 1999, when they left for the Staples Center.

Marangi says he doesn’t expect many sporting events in the Forum.

MSG confirmed this week it is close to purchasing the venue from a church, but has not said how much it would pay.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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