MSG moves forward with spin-off proposal

Madison Square Garden (MSG) Entertainment has filed plans with the US Securities and Exchange Commission to spin-off its live entertainment and MSG Networks divisions.

The proposed move, which remains subject to various conditions, would separate those businesses from the firm’s MSG Sphere and Tao Group Hospitality businesses, creating a separately-traded public company.

Alongside New York City’s 20,000-cap Madison Square Garden, the live entertainment and media firm is expected to include The Hulu Theater at Madison Square Garden, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre, along with the firm’s entertainment and sports bookings business and long-term arena licence agreements with the New York Knicks and New York Rangers.

MSG Entertainment would then comprise the MSG Sphere venues, a majority…

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