MSG Entertainment checks out possible spinoff that would consist of NY arena

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MSG Entertainment explores possible spinoff that would include NY arena

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Fans show up to Madison Square Garden prior to the video game in between the Golden State Warriors and New York Knicks on February 23, 2021 in New York City.

John Smith|Corbis News|Getty Images

Madison Square Garden Entertainment revealed Thursday it’s checking out a spinoff of its live home entertainment company, including its renowned New York City arena, and MSG Networks.

The spinoff would include the business’s efficiency locations– consisting of Madison Square Garden, the Hulu Theater, Radio City Music Hall, the Beacon Theatre and the Chicago Theatre– along with its home entertainment and sports reservations, the Radio City Rockettes and the “Christmas Spectacular” production, the business stated in a release.

The brand-new business would likewise manage the Garden’s licensing contracts with the New York Knicks and the New York Rangers, together with its local sports and home entertainment networks.

It would leave MSG Entertainment with Tao Group Hospitality, which owns dining establishments and clubs all over the world, and the MSG Sphere company, which includes “multi-sensory” efficiency locations, the very first of which is presently under building in Las Vegas.

Shares of Madison Square Garden Entertainment increased about 7% in prolonged trading Thursday.

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