MSG spin-off expected to be completed in March

Madison Square Garden (MSG) Entertainment says it expects to complete its proposed spin-off its live entertainment and MSG Networks divisions by the end of March.

Structured as a tax-free spin-off to all MSGE shareholders, the move would separate those businesses from the firm’s MSG Sphere and Tao Group Hospitality businesses, creating a separately-traded public company.

MSG filed plans for the spin-off with the US Securities and Exchange Commission in November last year.

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…

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