MSG Entertainment to Split Knicks and Rangers Into Separate Companies
The boards have approved the separation of the sports franchises into two independent entities, both slated to trade on the New York Stock Exchange.
Business & Markets • 2 hours ago
MSG Sports & Entertainment announced Tuesday that its board of directors has approved a plan to separate the company's Knicks and Rangers businesses into two distinct, publicly traded entities.
Both the newly formed Knicks company and the Rangers company will be listed on the New York Stock Exchange. This move aims to unlock value and provide greater focus for each business.
Details regarding the structure and timing of the spin-off were not immediately available, but the board's approval marks a significant step toward the separation. The decision follows a period of strategic review by the company.