Madison Square Garden Entertainment Corporation (MSGE) announced Friday that it is proceeding with a spin-off of its live entertainment business and expects to complete the spin-off by the end of March. A company executive said it had confidentially filed a revised registration statement for the proposed transaction and said it plans to file a public registration statement next month. rice field. MSG said in December that it was considering spinning off its live entertainment segment as part of a “revised” spin-off plan approved by its board of directors. The spin-off will be structured to be tax-free for shareholders, the company said. Holders of Madison Square Garden Entertainment Class A and Class B shares will receive approximately 67% of the shares in the live entertainment company and will retain the Madison Square Garden Entertainment Corporation name.Company name changed to parent company MSG Sphere Co., Ltd.
-Bill Peters
(Closed) Dow Jones Newswire
01-13-23 1651ET
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