Madison Sq. Backyard Leisure Information With SEC for Proposed Spinoff

By Kathryn Hardison

 
Madison Sq. Backyard Leisure Corp. has filed an preliminary form-10 registration assertion with the Securities and Change Fee for the proposed spinoff of its conventional stay leisure and MSG Networks companies.
      

       
By means of the spinoff, which the corporate started formally contemplating in August, the corporate’s stay leisure and media enterprise would tackle the title Madison Sq. Backyard Leisure Corp.
 
Shareholders would obtain a pro-rata distribution equal, in mixture, to an roughly two-thirds financial curiosity within the stay leisure and media firm. The remaining roughly one-third financial curiosity within the stay leisure and media firm could be retained by the present father or mother firm, which might be renamed MSG Sphere Corp.
 
The stay leisure and media firm would come with a group of venues, resembling Madison Sq. Backyard, The Hulu Theater at Madison Sq. Backyard, Radio Metropolis Music Corridor, the Beacon Theatre and The Chicago Theatre. It could additionally oversee the leisure and sports activities bookings enterprise, in addition to the Radio Metropolis Rockettes.
 
MSG Sphere would oversee a majority curiosity in Tao Group Hospitality, state-of-the-art venues and the vast majority of the corporate’s money readily available.
 
Write to Kathryn Hardison at kathryn.hardison@wsj.com