Madison Square Garden Company to separate into two publicly traded companies
The Madison Square Garden Company is pressing ahead with plans to separate its businesses into two publicly traded companies.
Subject to certain conditions, the move is expected to be completed during 2015 and would be structured as a tax-free spin-off of the sports and entertainment business to MSG shareholders on a pro rata basis.
MSG’s Board of directors believes that separating MSG’s live sports and entertainment businesses from its media interests will further enhance the long-term value-creation potential of both companies.
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