MSG Moves To New York Stock Exchange
The Madison Square Garden Co. is transferring the listing of its Class A common stock to the New York Stock Exchange from the Nasdaq Global Market.
Photo: AP Photo / Richard Drew
Fall Out Boy bangs the gavel to close trading of the New York Stock Exchange Jan. 21. The band was promoting its new album.
The stock will begin trading on the NYSE on July 27 under its current ticker symbol “MSG.” It will continue to trade on Nasdaq until the transfer is complete.
The company is in the process of separating its sports and entertainment business, which owns the New York Knicks and Rangers and sports and concert venues, from its media business, which runs the MSG Network. It expects to complete a tax-free spinoff later in 2015 and both companies’ stocks would trade on the NYSE.
The sports and entertainment business owns the NBA’s Knicks, the Rangers of the National Hockey League, and the WNBA’s New York Liberty. It also runs Madison Square Garden itself, along with the Theater at Madison Square Garden, Radio City Musical Hall, the Beacon Theater, and other venues along with entertainment joint ventures, an interest in Fuse Media, and live productions like the Radio City Christmas Spectacular.
The media business distributes sports and entertainment content through the MSG Network and MSG Network+ regional networks.
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