MSG Entertainment Acquires MSG Networks
March 26, 2021
Madison Square Garden Entertainment Corp. (MSG Entertainment) acquired MSG Networks, Inc. in an all-stock, tax-free transaction in which MSG Networks shareholders received 0.172 shares of MSG Entertainment for each MSG Networks share. The combination creates a larger entertainment and media platform with greater revenue diversification, enhanced financial flexibility, tax benefits and opportunities to pursue initiatives such as mobile sports gaming and the MSG Sphere venue project.
- Buyers
- Madison Square Garden Entertainment Corp.
- Targets
- MSG Networks, Inc.
- Industry
- Media & Entertainment
- Location
- New York, United States
- Transaction Type
- Buyout
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