MSG Entertainment Explores Spin-Off of Live Venue Business
The board of Madison Square Garden Entertainment Corp. has authorized management to explore a potential spin-off that would create a separately-traded public company comprised of its traditional live entertainment business – which includes Madison Square Garden and Radio City Music Hall – and the MSG Networks business. The proposed spin-off would separate these businesses from the company’s MSG Sphere and Tao Group Hospitality businesses.
The separation would enable both companies to pursue distinct business and capital allocation strategies, MSG Entertainment said.
CEO James L. Dolan said the two separate companies would each represent “a distinct value proposition for investors. The live entertainment and media company would include Madison Square Garden, the Christmas Spectacular production and MSG Networks and would generate substantial free cash flow. The second company, comprised of MSG Sphere and Tao Group Hospitality, would be focused on unique shared experiences, innovation and global opportunities for growth.”
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).
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