MSG Entertainment Separation Report

On April 20, 2023, MSG Entertainment (Old MSGE) completed the separation of its traditional live entertainment business from its MSG Sphere business.

[Editor’s Note: SPHR has advanced from $30.20 on May 1, 2023 to $40.29 on February 9, 2024. MSGE has advanced from $32.45 on May 1, 2023 to $36.81 on February 9, 2024.]

MSG Entertainment spun out its more traditional entertainment business from its MSG Sphere business back in April or this year. We believe this separation provides a nice catalyst for capital appreciation. Below is our analysis.

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This information is not a recommendation, or an offer to sell, or a solicitation of any offer to buy, an interest in any security, including an interest in any investment vehicle managed or advised by affiliates of Boyar Research. Any information that may be considered advice concerning a federal tax issue is not intended to be used, and cannot be used, for the purposes of (i) avoiding penalties imposed under the United States Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter discussed herein. Clients of an affiliate of Boyar Research and employees of Boyar Research own shares in SPHR, MSGE, and MSGS.