New York & Tri-State + Midtown New York + Hospitality | January 13, 2023

Madison Square Garden Files for Spin-off of Live Entertainment Business

Madison Square Garden Entertainment Corp. (MSGE) said Friday that it’s moving forward with the spin-off of its traditional live entertainment business, which includes a diverse collection of venues in New York and Chicago, the company’s entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.

The company has confidentially submitted an Amended Form 10 Registration Statement with the SEC and expects to file a publicly available Amended Form 10 in February. The spin-off is slated for compleion by the end of March.

As previously announced, the revised transaction would be structured as a tax-free spin-off to all MSGE shareholders. Shareholders would receive a pro-rata distribution equal to an approximately 67% economic interest in the live entertainment company, to be named Madison Square Garden Entertainment Corp. The remaining approximately 33% economic interest would be retained by the current parent company, which would be renamed.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).