On August 18, 2022, Madison Square Garden MSG Entertainment Corp (NYSE: MSGE, $60.61, Market Capitalization: $2.1 billion) announced that its Board of Directors has authorized the Company’s management to explore a potential spin-off of its live entertainment and MSG Network businesses into a separately traded public company. The proposed spin-off would be structured as a tax-free transaction for all MSG shareholders. Upon completion of the contemplated separation, record holders of MSGE Class A and Class B common stock would receive a pro-rata distribution, expected to be equivalent, in aggregate, to an approximately two-thirds economic interest in the live entertainment and media company. The remaining common stock, expected to be equivalent to an approximately one-third economic interest in…
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