NEW YORK, NY (CelebrityAccess) – The Madison Square Garden Company on Tuesday took another step towards the planned spin-off of its entertainment business when it filed its initial form 10 registration with the SEC.
The filing represents a significant milestone in the spin-off process, which appears to be on track for the first quarter of 2020.
The proposed spin-off includes MSGE’s sports and entertainment businesses, creating standalone pure-play sports and entertainment companies.
The proposed sports company would include MSGE’s sports franchises, the New York Knicks professional NBA franchise and its development team, the Westchester Knicks; the New York Rangers professional NHL franchise and its development team, the Hartford Wolf Pack.
As well, the proposed sports unit will also encompass MSGE’s esports businesses, including Knicks Gaming, the official NBA 2K esports franchise of the New York Knicks, and a majority interest in North American esports organization Counter Logic Gaming.
The entertainment company would encompass MSGE’s venues, including New York’s Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; the Forum in Inglewood, CA; and The Chicago Theatre, as well as the under-construction MSG Sphere in Las Vegas.
Also to be included under the umbrella of the new entertainment entity are MSG’s booking business; productions such as the Radio City Rockettes and the Christmas Spectacular; a majority stake in hospitality brand Tao Group and Boston Calling Events.