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MSG spinning off sports/entertainment businesses

  • Three months after stating it's exploring such a move, Madison Square Garden (MSG) has announced it's spinning off its sports and entertainment businesses into a separate, publicly-traded, company.
  • The spinoff will include the Knicks, the Rangers, Madison Square Garden itself, Radio City Music hall, several other theaters, live productions such as Radio City Christmas Spectacular, entertainment JVs, and MSG's interest in Fuse Media. It's expected to be completed in 2015.
  • MSG +2.8% AH to $83.00, making new 52-week highs in the process.

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