Latest in Madison Square Garden Company

The Madison Square Garden Company said Tuesday it has notified the SEC of its plan to spin off its entertainment business and tighten its corporate focus on sports. In a press release, the company said it expects to complete the spinoff by the first quarter of 2020. The Dolan family, which has run MSG Co. for decades…

A controlling stake in Tribeca Enterprises, Robert De Niro and Jane Rosenthal’s festival parent, has been taken by James Murdoch’s Lupa Systems and Attention Capital, whose CEO is former Fox executive Joe Marchese. The stake used to be held by the Madison Square Garden Company, which paid $22.5 million for a 50%…

In one of the most surprising of casting announcements of the holiday season, Madison Square Garden Co. said Intel’s Shooting Star drones will join the Radio City Rockettes for the finale of its annual Christmas Spectacular at Radio City. One hundred palm-sized drones will create a light show over the stage, using…

Former Cablevision chief James Dolan loves nightlife — at least well enough to make a big investment in it. His family-controlled Madison Square Garden Company says this morning it paid $181 million for a 62.5% stake in a new company called Tao Group. It specializes in what the companies call “entertainment and…

UPDATED with AGVA statement: Members of the Radio City Rockettes who are kicking up a fuss about the company’s decision to have them perform at President-elect Trump’s inauguration next month won’t have to participate, their union says today. Madison Square Garden Co., has “agreed that ALL participation in this…

Why would Charles and James Dolan split Madison Square Garden into two companies if they weren’t determined to sell one of them, lots of investors believe this morning now that the long-planned division is official. The new Madison Square Garden Co., trading under the symbol “MSG,” includes venues (led by Madison…

Madison Square Garden Company shares leapt 19.2% in postmarket trading after it said that it will explore a plan to spin off its entertainment businesses from its media and sports ones and repurchase $500 million worth of its stock. The spinoff would create a company that controls and manages entertainment at venues…

SiTV Media agreed to pay $226M — and give MSG a 15% stake — the entities disclosed this morning. The total value of the cash plus equity comes to about $275M, Stifel analyst Benjamin Mogil estimates. In any event, the company where Jennifer Lopez is a shareholder and Chief Creative Officer outbid an offer from Sean Com…

UPDATE, 3:25PM:  Madison Square Garden Company is buying a 50% stake in Tribeca Enterprises at $45 million, both companies have confirmed.  CEO and co-founder Jane Rosenthal will continue to lead Tribeca along with President and COO Jon Patricof. For MSG, the upside is Tribeca’s content, not to mention an entry into…

Loud noises on both coasts — hosannas in New York, wails of despair in Los Angeles — are coming from basketball fans today after Phil Jackson was hired as president of the New York Knicks. But the move isn’t just about games. Investors wonder whether the Zen master, coach of 11 NBA champions, star player on two…

The performer who now just calls himself Diddy would use the music channel to boost distribution for his Revolt TV, another music service that launched in October, Bloomberg reports citing “three people with knowledge of the situation.” Comcast helped to launch Revolt to fulfill its agreement, in return for government…

This should relieve investors who feared that Madison Square Garden Executive Chairman Jim Dolan‘s decision to invest $125M in an entertainment partnership with music manager Irving Azoff would leave the sports and entertainment company strapped for cash. MSG says that it has been “approached by certain parties…