Madison Square Garden To Spin-Off MSG Entertainment On April 17 [Forbes]
MADISON SQUARE GARDEN CO NEW (MSG)
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Source: Forbes
Photographer: Mark Kauzlarich/Bloomberg© 2017 Bloomberg Finance LPOn March 31, 2020, The Madison Square Garden Company (NYSE: MSG, $211.41, Market Capitalization $5.1 billion), a world leader in live sports and entertainment experiences, announced that its Board of Directors had approved completion of the Company’s separation into two independent, publicly-traded companies by way of a tax-free spin-off of its Entertainment business. The Sports business will remain in the existing Company, which will be renamed Madison Square Garden Sports Corp and will change its stock ticker from “MSG” to “MSGS” in connection with the separation. The Entertainment business will be part of a new company that will be named Madison Square Garden Entertainment Corp. at separation, and its common stock would be listed on the NYSE under the symbol “MSGE”.Each MSG common stockholder will receive one share of MSG Entertainment Class A or Class B common stock for every share of MSG Class A or Class B common s
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