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Madison Square Garden Company Launches Standalone Sports & Entertainment Companies

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NEW YORK (CelebrityAccess) — The Madison Square Garden Company has successfully completed its spin-out of its entertainment and sports businesses into two, publicly-traded, standalone companies.

The two divisions both began trading the New York Stock Exchange on Monday under two separate symbols. Madison Square Garden Sports Corp. will be “MSGS” and Madison Square Garden Entertainment under “MSGE.”

MSG Entertainment includes iconic venues such as Madison Square Garden, The Hulu Theater at MSG and the Chicago Theater, as well as leases for Radio City Music Hall and the Beacon Theater.

The company will also include MSG’s booking operations, including bookings for the Knicks, Rangers and other sports events, and MSG’s productions, including the Radio City Rockettes and the Christmas Spectacular.

MSG Sports includes sports franchises The New York Knicks NBA and its development team, the Westchester Knicks and The New York Rangers NHL and its development team, the Hartford Wolf Pack.

The newly-formed sports company also holds MSG’s e-sports operations including Knicks Gaming, the official NBA 2K esports franchise of the New York Knicks, and a controlling stake in the North American esports business Counter Logic Gaming.

At the end of trading on their first day after going public, MSG Entertainment closed at $65.33, down 4.01% while MSG Sports closed at $237.22, up 3.18%.

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