Madison Square Garden Entertainment Corp. - MSGE STOCK NEWS

Madison Square Garden Entertainment Corp. (NYSE: MSGE) has confidentially submitted an initial Form 10 Registration Statement to the SEC for the proposed spin-off of its live entertainment and MSG Networks businesses. This tax-free spin-off will grant shareholders approximately two-thirds economic interest in the new live entertainment enterprise, which will retain the MSGE name. The remaining one-third will be kept by the parent company, which will become MSG Sphere Corp. The transaction is subject to various conditions, including SEC approval.

Madison Square Garden Sports Corp. (NYSE: MSGS) and HUB International Limited have entered a significant marketing partnership. HUB becomes an official partner of the New York Knicks and New York Rangers, alongside other events at Madison Square Garden. This partnership includes exclusive branding opportunities like the new 'HUB Loft' hospitality suite and extensive brand exposure through digital and in-arena signage. HUB's CMO, Ellina Shinnick, emphasized their growth aspirations through this collaboration.

Madison Square Garden Entertainment Corp. (MSGE) announced its financial results for the fourth quarter and fiscal year ending June 30, 2022. Revenues soared to $1.7 billion, up from $814.2 million last year. The fourth quarter saw revenues of $453.5 million, a 74% increase year-over-year. However, the company reported an operating loss of $102.7 million for the year and $56.8 million for the fourth quarter. MSGE is exploring a potential separation of its live entertainment and MSG Networks businesses from MSG Sphere and Tao Group Hospitality to enhance shareholder value.

Madison Square Garden Entertainment (NYSE: MSGE) announced its board's approval to explore a potential spin-off of its live entertainment and MSG Networks businesses, separating them from MSG Sphere and Tao Group Hospitality. This restructuring aims to enhance shareholder value by providing clearer investment options. If realized, shareholders would receive a tax-free distribution, amounting to about two-thirds economic interest in the new live entertainment entity. The split would allow both companies to focus on unique growth strategies, though completion of the transaction is not guaranteed and depends on various conditions.

Madison Square Garden Entertainment Corp. (NYSE:MSGE) will host a conference call on August 19, 2022, at 10:00 a.m. ET to discuss its fourth quarter and fiscal year results ending June 30, 2022. A press release detailing these results will be issued prior to market opening.

Participants can join via telephone at 888-660-6386 using conference ID 8020251 or through a webcast available on the company's investor relations site.

Madison Square Garden Entertainment Corp. (NYSE: MSGE) has partnered with chargeFUZE, launching ten autonomous phone charging stations at Madison Square Garden. Available starting tonight, these stations will allow guests to rent portable chargers easily via a QR code. This initiative aims to enhance the guest experience during events. chargeFUZE will also gain visibility through in-arena branding and messaging. The partnership aligns with MSGE's focus on innovative guest services across its venues, reflecting its commitment to enhancing visitor experiences.

Madison Square Garden Entertainment Corp. (MSGE) has partnered with Voltus to enhance energy efficiency and reduce emissions at the arena. The collaboration aims to implement demand response services, optimizing energy usage during peak times. Voltus is recognized as an official partner, leveraging its distributed energy resource platform to provide substantial marketing exposure. With Voltus's technology, MSGE anticipates improvements in operational efficiency while contributing positively to New York's electricity grid.

Madison Square Garden Entertainment Corp. (NYSE: MSGE) announced that Trey Anastasio will perform two acoustic shows at the Beacon Theatre on August 19 and 20, 2022, featuring the debut of the Sphere Immersive Sound system. This advanced audio technology, developed for the upcoming MSG Sphere in Las Vegas, enhances audience experience with precise sound delivery. Tickets are available starting July 28, 2022. Anastasio's history with MSG includes previous performances and innovative virtual residencies.