MSG Entertainment says live entertainment company to include MSG

Executive Chairman and CEO James L. Dolan said "We believe the revised spin-off structure best positions these two companies for long-term success. One would be a pure-play live entertainment company driven by the strong financial profile of our iconic venues and the Christmas Spectacular production. The second company, comprised of MSG Sphere, MSG Networks and Tao Group Hospitality, would have enhanced flexibility to execute its business strategy and pursue global growth opportunities." The live entertainment company is expected to include: Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre; the company’s entertainment and sports bookings business, which showcases a broad array of compelling concerts, family shows and special events, as well as a diverse mix of sporting events, for millions of guests annually; the Radio City Rockettes and the Christmas Spectacular production, which has been a holiday tradition for 89 years; and valuable long-term Arena License Agreements with the New York Knicks and New York Rangers, both of which play their home games exclusively at Madison Square Garden. After the proposed spin-off, MSG Sphere Corp. is expected to include: MSG Sphere – state-of-the-art venues that will combine cutting-edge technology with multi-sensory storytelling to deliver immersive experiences on an unparalleled scale. The first MSG Sphere is currently under construction in Las Vegas and expected to open in the second half of calendar 2023; MSG Networks, which owns two regional sports and entertainment networks, MSG Network and MSG Sportsnet (formerly MSG+), as well as a companion streaming service, MSG GO, and features exclusive live local games of 5 NBA and NHL sports franchises; Majority interest in Tao Group Hospitality, a global entertainment dining and nightlife provider, with over 70 branded locations in more than 20 markets across 4 continents; and an approximately one-third economic interest in the live entertainment company.