MSG Entertainment proposes separate company for Madison Square Garden, Radio City Music Hall
Entertainment said Thursday that it will explore potentially spinning off live entertainment venues and a bevy of other assets into a separate company.
Under the possible spinoff, MSG Entertainment would retain its “immersive” MSG Sphere venues and its majority interest in the dining and nightlife company TAO Group Hospitality, according to a The potential separate company, meanwhile, would get the sports and entertainment bookings, as well as the Radio City Rockettes, the famous Christmas holiday production and arena licensing agreements with the New York Knicks and the New York Rangers, according to the release.
The new company would own the live performance venues, as well as the Rockettes and other properties.“This potential transaction would create two companies, each with a distinct value proposition for investors,” MSG Entertainment CEO James Dolan said in the release.
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