MSG Entertainment Is Considering A Spinoff That Could Involve New York Arena

Fans arrive at Madison Square Garden before the game between the Golden State Warriors and the New York Knicks on February 23, 2021 in New York City.

John Smith | Corbis News | Getty Images

Madison Square Garden Entertainment announced Thursday that it is considering a spin-off of its live entertainment business, which will include the iconic New York City arena and MSG Networks.

The spin-off will consist of company performance venues such as Madison Square Garden, Hulu Theater, Radio City Music Hall, Beacon Theater and Chicago Theater, as well as entertainment and sports bookings, Radio City Rockets and “A Christmas Spectacular.” ‘, the company said in a release.

The new company will also manage garden licensing agreements with the New York Knicks and New York Rangers, as well as regional sports and entertainment networks.

MSG Entertainment will retain Tao Group Hospitality, which owns restaurants and nightclubs around the world, and MSG Sphere, which includes a “multi-sensory” performance venue currently under construction in Las Vegas.

Shares of Madison Square Garden Entertainment rose about 7% in extended trading on Thursday.

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