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GlobeNewswire • 1 hour ago The Madison Square Garden Company (MSG) announced today that in honor of Billy Joel’s unprecedented achievement of 100 lifetime performances at The World’s Most Famous Arena, Joel’s piano will be displayed at The Garden. The piano will be on display beginning today outside of Chase Square in front of Madison Square Garden.
Governor Andrew M. Cuomo has also officially proclaimed July 18, 2018 as “Billy Joel Day” in the State of New York in honor of Joel’s extraordinary history of leadership and contributions to the music industry and New York State.
Barrons.com • 20 days ago Madison Square Garden’s move yesterday to explore a separation of its sports teams, principally the New York Knicks and New York Rangers, from its live entertainment assets, led by the Madison Square Garden arena in Manhattan, is playing well with investors. After the gain, the shares (MSG) may have limited upside given that they’re up more than 40% this year and reflect a lofty implied valuation for the Knicks of around $3.6 billion. Barron’s wrote favorably on the company two years ago (“MSG, Trophy Properties for 35% Off,” July 16, 2016) when the shares traded around $175. Reuters • 20 days ago A possible tax-free spinoff would create two separately traded public companies to unlock value for the businesses, MSG said on Wednesday. 'This proposed transaction would provide each company with enhanced strategic flexibility, its own defined business focus and clear investment characteristics,' said Chief Executive Officer James Dolan, who is expected to be the chairman and CEO of both the companies. The sports entity will house the New York Knicks and New York Rangers professional sports franchises, while the live entertainment company will include all owned concert-hosting venues such as New York's Madison Square Garden and Radio City Music Hall as well as nightclubs owned by the TAO Group.
Bloomberg • 21 days ago Madison Square Garden Co. Outlook Express Email App. Is looking to spin off its sports franchises, including the New York Knicks and New York Rangers, a bet that it can wring more value from the iconic teams if they’re an independent business. Shareholders would receive a two-thirds economic interest in the Knicks and Rangers, as well as the New York Liberty, a women’s basketball team that the company has been trying to sell. The live-events company would keep famous venues such as Madison Square Garden and Radio City Music Hall, as well as a hospitality group, a music festival producer and about $1 billion in cash. Bloomberg • 21 days ago Madison Square Garden Co. Is looking to spin off its pro-sports franchises, including the New York Knicks and New York Rangers, a bet that it can wring more value from the iconic teams if they’re an independent business. Shareholders would receive a two-thirds economic interest in the Knicks and Rangers, as well as the New York Liberty, a women’s professional basketball team that the company has been trying to sell.
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