The Madison Square Garden Company has sold Irving Azoff its half stake in their JV for $125 million.
Azoff MSG Entertainment was established in 2013 when it was combined with Azoff Music Management. The joint venture - which will be renamed The Azoff Company - provides artist management, publishing, TV production and live event branding.
Azoff, chairman and CEO, now takes full control of the JV and the company will provide consultancy services to MSG for management of live events. The Azoff Company will continue to advise MSG in relation to the Forum and MSG Sphere project, which includes plans for major new venues in London and Las Vegas.
“Irving has been a valued business partner and we know that he will continue to enjoy incredible success in his company and in his continued role with us," said Jim Dolan, executive chairman and CEO of MSG.
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