The moves mark the finale of the Madison Square Garden Company’s split into entertainment and sports. Each MSG common stockholder received one share of MSG Entertainment Class A or Class B common stock for every share of MSG Class A or Class B common stock, respectively, held as of the record date.As previously announced, Andrew Lustgarten will be president of MSG Entertainment.
Compare MSGS With Other Stocks Send us a tip using our annonymous form.Copyright © 2020 Penske Business Media, LLC. Entertainment assets include New York’s Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and the Beacon Theatre, the Forum in Inglewood, California, and The Chicago Theatre. Stock split history for Madison Square Garden since 2020. View real-time stock prices and stock quotes for a full financial overview. It is building a venue in Las Vegas, the MSG Sphere at The Venetian, and has announced plans to build a second MSG Sphere in London, pending necessary approvals. Discover historical prices for MSGS stock on Yahoo Finance. Shares are up 3.7% after hours. And Dolan Monday named Mark FitzPatrick executive VP, CFO and head of investor relations. Madison Square Garden (NYSE:MSG) says its board has approved a simmering plan to separate its sports and entertainment businesses via spin-off. It owns the Christmas Spectacular Starring the Radio City Rockettes and, through Boston Calling Events, produces the Boston Calling Music Festival.MSG Entertainment also houses Tao Group Hospitality with entertainment, dining and nightlife brands including Tao, Marquee, Lavo, Avenue, Beauty & Essex and Cathédrale.Get our latest storiesin the feed of your favorite networksWe want to hear from you! It's now pursuing a spin-off of the entertainment businesses into a separate publicly traded company, and in a revised structure, the entertainment company wouldn't retain any equity interest in the sports company.It had previously contemplated spinning off two-thirds of economic interest in the sports business to shareholders, with the entertainment company holdings one-third.The sports company would include the New York Knicks and New York Rangers (and their development teams); esports interests in Knicks Gaming and Counter Logic Gaming; and its training center in Greenburgh, N.Y.The entertainment company would hold interests in the planned MSG Sphere venues along with Madison Square Garden, Radio City Music Hall and Beacon Theatre, the Forum in Inglewood, Calif., and the Chicago Theatre, along with the bookings business, productions and other interests and $1B cash on hand. FitzPatrick most recently served as CFO of WeWork and was previously at Time Warner Cable.Lustgarten, an MSG executive, previously spent seven years at the National Basketball Association, where he served as Senior Vice President, Global Strategy, and before that, Special Assistant to the Commissioner.The spin-off has been structured to qualify as a tax-free distribution to MSG stockholders and MSG for U.S. federal income tax purposes.Victoria Mink will continue in her role as executive VP and CFO at The moves mark the finale of the Madison Square Garden Company’s split into entertainment and sports. The distribution will take place on April 17, 2020, to MSG stockholders of record as of the close of business on April 13, 2020. The stock, trading under the symbol MSGE, was down 5% mid-morning on a rocky day for the market.“While the current environment presents significant challenges to our industry, we are confident in the future, and look forward to MSG Entertainment building on its reputation as a leader in live experiences,” said CEO The spin-off distribution was completed at 11:59 p.m. on April 17 to stockholders of record of MSG as of the close of business April 13. Please see the "Historical Prices" tab for adjusted price values. All Rights reserved. Prices shown are actual historical values and are not adjusted for either splits or dividends. 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 stock, respectively, held as of the record date.