MSG Sells Remaining LYV Shares
Madison Square Garden Co. sold its $44 million stake in Live Nation Entertainment as expected with the departure of MSG Chairman James Dolan from the LYV board in February.
The company sold all of its roughly 3.9 million shares, according to a statement.
Dolan resigned from the Live Nation shortly after the departure of Irving Azoff, with whom the MSG boss was said to be close.
MSG acquired its stake as part of the deal that saw Live Nation acquire the remainder of Azoff’s Front Line Management Group that it didn’t already own.