Madison Square Garden Company Spinning Off Entertainment Business
Madison Square Garden Company (NYSE: MSG) is about to split itself in two. The company announced Wednesday that it is spinning off its entertainment business from its sports assets, a move that will result in the creation of two separate, publicly traded businesses.
The two will be called Madison Square Garden Entertainment and Madison Square Garden Sports. Stockholders of the current Madison Square Garden will receive, on April 17, one share of Madison Square Garden Entertainment per share of the present company they hold.
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Source Fool.com
