The Madison Square Garden Company is making progress in its quest to spin off its sports and live businesses into separate companies and, according to Securities and Exchange Commission reports filed Oct. 4, has set a timeline for the completion by mid-2019.
The live business would consist of MSG Bookings, buildings including Madison Square Garden Arena, The Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; the Forum in Inglewood, Calif.;
It would also include MSG Productions, which includes the Radio City Rockettes and Christmas Spectacular, majority interests in hospitality company the TAO Group, and Boston Calling Events, producer of New England’s preeminent Boston Calling Music Festival, as well as strategic entertainment joint ventures such as Azoff-MSG Entertainment and Tribeca Enterprises.
Azoff-MSG Entertainment head Irving Azoff is a co-founder of Oak View Group, Pollstar’s parent company.
Among the company’s sports interests are the New York Knicks NBA team, New York Rangers NHL team and the WNBA’s New York Liberty, for which the company is exploring a sale.
In addition to announcing the proposed timeline to complete the deal, which will include a tax-free spinoff to MSG shareholders, the company made good on its previous announcement that executive chairman James Dolan is moving into the position of MSG Co. Chief Executive Officer.