Madison Square Garden Co. said Thursday it is moving ahead with plans to spin off its sports franchises, which include the Knicks and Rangers, into a separate publicly traded company.
The deal is expected to close in the first half of 2019, MSG said in a Thursday securities filing, adding that its executive chairman and chief executive, James Dolan, will hold the same title at both companies.
MSG said its remaining half will be comprised of a live entertainment business with venues including Madison Square Garden and the adjacent Hulu Theater, Radio City Music Hall and the Beacon Theatre.