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MSGE on NYSE

Madison Square Garden Entertainment Corp.

Madison Square Garden Entertainment Corp. is an American miscellaneous amusement and recreation services company.1 It is headquartered in New York, New York.1 Its shares trade on NYSE under the symbol MSGE.1

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Last updated Oct 21, 2026.

Overview

$1.1BRevenue, fiscal 20262
$66.2MNet income, fiscal 20262

Compare with Rush Street Interactive, Inc., Madison Square Garden Sports Corp. or Six Flags, or pick any stock.

  • TickerMSGE on NYSE1
  • IndustryServices-Miscellaneous Amusement & Recreation1
  • HeadquartersNew York, New York1
  • Incorporated inNV3
  • Business addressTwo Pennsylvania Plaza, New York, Ny 101213
  • Filer categoryLarge accelerated filer3

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Madison Square Garden Entertainment Corp. is a Nevada corporation with its principal executive offices at Two Pennsylvania Plaza, New York, NY, 10121. Unless the context otherwise requires, all references to “we,” “us,” “our,” “MSG Entertainment” or the “Company” refer collectively to Madison Square Garden Entertainment Corp., a holding company, and its direct and indirect subsidiaries. We conduct substantially all of our business activities discussed in this Annual Report on Form 10-K through MSG Entertainment Holdings, LLC and its direct and indirect subsidiaries.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

13.3%Operating margin2
6.2%Net margin2
12.5%Revenue growth, 20262
144.6%Return on equity2
11.80×Debt to equity2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Ticketing And Venue License Fee Revenues brought in 61% of the revenue Madison Square Garden Entertainment Corp. broke down this way in fiscal 2026.

  1. Ticketing And Venue License Fee Revenues$528.4M261%up 17% from 2025
  2. Food, Beverage And Merchandise Revenues$164.4M219%up 9% from 2025
  3. Arena Licensing Fees And Other Leasing Revenue$86.2M210%up 8% from 2025
  4. Arena License Agreements$68.1M28%up 0% from 2025
  5. Third Party Lease and Sublease Arrangements$18.2M22%up 53% from 2025
  6. Product and Service, Other$6.3M21%down 2% from 2025
Products and services by year
Products and services202420252026
Ticketing And Venue License Fee Revenues$463.3M$453.2M$528.4M
Food, Beverage And Merchandise Revenues$162.1M$150.5M$164.4M
Arena Licensing Fees And Other Leasing Revenue$73.3M$79.9M$86.2M
Arena License Agreements$68.1M$68.1M$68.1M
Third Party Lease and Sublease Arrangements$5.2M$11.9M$18.2M
Product and Service, Other$6.5M$6.4M$6.3M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Selling, general and admin24¢$253.1M
  • Other costs66¢$700.7M
  • Income tax4¢$40.8M
  • Profit6¢$66.2M

Out of $1.1B in revenue.2

Where each dollar of operating cash went, fiscal 2026

  • Share buybacks7¢$25.0M
  • Kept or used elsewhere93¢$326.4M

Out of $351.4M of cash from operations.2

Financial statements

Revenue5672$1.1B in 2026+1745% since 2021
0$500.0M$1.0B$1.5B2021: $57.5M$57.5M20212022: $582.1M$582.1M2022+913%2023: $779.8M$779.8M2023+34%2024: $959.3M$959.3M2024+23%2025: $942.7M$942.7M2025−2%2026: $1.1B$1.1B2026+13%
Operating income5672$141.5M in 2026
-$300.0M-$200.0M-$100.0M0$100.0M$200.0M2021: -$237.3M-$237.3M20212022: -$5.6M-$5.6M2022−98%2023: $105.0M$105.0M20232024: $111.9M$111.9M2024+7%2025: $122.1M$122.1M2025+9%2026: $141.5M$141.5M2026+16%
Net income5672$66.2M in 2026
-$300.0M-$200.0M-$100.0M0$100.0M$200.0M2021: -$218.6M-$218.6M20212022: -$133.3M-$133.3M2022−39%2023: $76.6M$76.6M20232024: $144.3M$144.3M2024+88%2025: $37.4M$37.4M2025−74%2026: $66.2M$66.2M2026+77%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2026-06-302025-06-302024-06-30
Revenues$1.1B$942.7M$959.3M
Total direct operating expenses-$582.3M-$535.6M-$568.8M
Selling, general and administrative expenses-$253.1M-$215.0M-$207.0M
Depreciation and amortization-$56.1M-$57.8M-$53.9M
Impairment of long-lived assets-$13.8M-$11.2M$0
Restructuring charges-$14.0M-$1.1M-$17.6M
Operating income$141.5M$122.1M$111.9M
Interest income$6.2M$2.3M$3.0M
Interest expense-$40.0M-$50.5M-$58.0M
Loss on extinguishment of debt$0-$6.1M$0
Other expense, net-$793.0K-$2.2M-$4.7M
Income from operations before income taxes$107.0M$65.6M$52.3M
Income tax (expense) benefit-$40.8M-$28.1M$92.0M
Net income$66.2M$37.4M$144.3M
Basic (in dollars per share)$1.39$0.78$2.99
Diluted (in dollars per share)$1.38$0.77$2.97
Basic (in shares)47.5M shares48.0M shares48.3M shares
Diluted (in shares)48.0M shares48.3M shares48.6M shares

Compare Madison Square Garden Entertainment Corp. with another company

Corporate structure

Madison Square Garden Entertainment Corp. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Madison Square Garden Entertainment Corp.

  • ARIEL INVESTMENTS, LLC Filed SCHEDULE 13G/A on Madison Square Garden Entertainment Corp., latest Aug 14, 2026 (8 filings since May 25, 2023)
  • Barclays Filed SCHEDULE 13G/A on Madison Square Garden Entertainment Corp., latest Aug 13, 2026 (4 filings since Aug 12, 2025)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Madison Square Garden Entertainment Corp., latest Apr 30, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Madison Square Garden Entertainment Corp., latest Mar 27, 2026 (2 filings since Feb 13, 2024)
  • James Lawrence Dolan Filed SCHEDULE 13D/A on Madison Square Garden Entertainment Corp., latest Mar 9, 2026 (4 filings since Feb 4, 2025)
  • Jericho Capital Asset Management L.P. Filed SCHEDULE 13G/A on Madison Square Garden Entertainment Corp., latest Feb 17, 2026 (3 filings since Feb 14, 2024)
  • Channing Capital Management, LLC Filed SCHEDULE 13G/A on Madison Square Garden Entertainment Corp., latest Jan 22, 2026 (2 filings since Feb 13, 2024)
  • Point72 Asset Management, L.P. Filed SCHEDULE 13G/A on Madison Square Garden Entertainment Corp., latest Feb 14, 2025 (3 filings since Oct 10, 2023)
  • Charles Dolan Filed SCHEDULE 13D/A on Madison Square Garden Entertainment Corp., latest Dec 31, 2024 (4 filings since Apr 28, 2023)
  • Morgan Stanley Filed SC 13G/A on Madison Square Garden Entertainment Corp., latest Nov 7, 2024 (2 filings since Feb 8, 2024)
  • BlackRock Filed SC 13G on Madison Square Garden Entertainment Corp., latest Jan 26, 2024
  • Madison Square Garden Entertainment Corp. New York, New York

Built from major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What Madison Square Garden Entertainment Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.5B2 Jun 30, 2026$1.6B2 Jun 30, 2025−3.2%
Accumulated depreciation$944.8M2 Jun 30, 2026$966.1M2 Jun 30, 2025−2.2%
Property and equipment, net$591.7M2 Jun 30, 2026$621.1M2 Jun 30, 2025−4.7%
Operating-lease assets (leased space)$448.9M2 Jun 30, 2026$484.5M2 Jun 30, 2025−7.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$293.6M2 Jun 30, 2026$43.0M2 Jun 30, 2025+582.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$69.0M2 Jun 30, 2026$69.0M2 Jun 30, 20250%
Indefinite-lived intangibles (excluding goodwill)$63.8M2 Jun 30, 2026$63.8M2 Jun 30, 20250%

Inventory

ItemLatestA year beforeChange
Inventory, total$3.7M2 Jun 30, 2026$3.8M2 Jun 30, 2025−0.1%

Properties, in its own words

We own the Madison Square Garden Complex, which includes The Garden (with a maximum capacity of approximately 21,000 seats) and the Infosys Theater at Madison Square Garden (with a maximum capacity of approximately 5,600 seats) in New York City, comprising approximately 1,100,000 square feet; and The Chicago Theatre (with a maximum capacity of approximately 3,600 seats) in Chicago comprising approximately 72,600 square feet.

Significant properties that are leased in New York City include approximately 367,000 square feet housing Madison Square Garden

The rest of Item 2

Entertainment Corp.’s administrative and executive offices with approximately 64,000 square feet of space that is subleased to MSG Sports, approximately 19,000 square feet of space that is subleased to Sphere Entertainment, and approximately 126,000 square feet of space that is subleased to other third parties, approximately 577,000 square feet comprising Radio City Music Hall (with a maximum capacity of approximately 6,000 seats) and approximately 57,000 square feet comprising the Beacon Theatre (with a maximum capacity of approximately 2,800 seats). For more information on our venues, see “Item 1. Business — Our Business — Our Venues.”

Our Madison Square Garden Complex is subject to and benefits from various easements, including over the “breezeway” into Madison Square Garden from Seventh Avenue in New York City (which we share with other property owners). Our ability to continue to utilize this and other easements requires us to comply with certain conditions. Moreover, certain adjoining property owners have easements over our property, which we are required to maintain so long as those property owners meet certain conditions.

Item 2 of the 10-K filed Aug 12, 2026.4

Leadership

Who has led Madison Square Garden Entertainment Corp., and when. Pick a name to see everywhere that person has worked.

Chief financial officer

  1. David F. Byrnes2023
  2. Michael Grau2024
  3. Lee Weinberg2024–2025
  4. David J. Collins2025–now
2025
Board members and other officers (17)

Former names

  • MSGE Spinco, Inc.Oct 26, 2022 to Apr 19, 20233

Timeline

  1. Aug 12, 20268-K Results of operations32
  2. Jun 8, 20268-K Regulation FD disclosure33
  3. May 7, 20268-K Results of operations34
  4. Mar 27, 20268-K Executive or director change35
  5. Feb 3, 20268-K Results of operations36
  6. Dec 11, 20258-K Shareholder vote37
  7. Nov 21, 20258-K Executive or director change38
  8. Nov 13, 20258-K Executive or director change39
  9. Nov 6, 20258-K Results of operations40
  10. Oct 24, 20258-K Executive or director change41
  11. Aug 13, 20258-K Results of operations42
  12. Jun 30, 20258-K Entered a material agreement; New debt or obligation43

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.46) a share, on Nov 6, 2025.44

When it reported results

  1. Aug 12, 2026Reported quarterly or annual results32
  2. May 7, 2026Reported quarterly or annual results34
  3. Feb 3, 2026Reported quarterly or annual results36
  4. Nov 6, 2025Reported quarterly or annual results40
  5. Aug 13, 2025Reported quarterly or annual results42
  6. May 6, 2025Reported quarterly or annual results45
  7. Feb 6, 2025Reported quarterly or annual results46
  8. Nov 8, 2024Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

345 filings to the SEC since October 2021: 4 annual reports, 10 quarterly reports, 38 major events, 183 insider forms, 34 large holders, 76 other. The latest 20:

  1. Oct 1, 20263 EDGAR
  2. Sep 17, 20264 EDGAR
  3. Sep 17, 20264 EDGAR
  4. Sep 17, 20264 EDGAR
  5. Sep 17, 20264 EDGAR
  6. Sep 17, 20264 EDGAR
  7. Aug 28, 20264 EDGAR
  8. Aug 28, 20264 EDGAR
  9. Aug 28, 20264 EDGAR
  10. Aug 28, 20264 EDGAR
  11. Aug 28, 20264 EDGAR
  12. Aug 14, 2026SCHEDULE 13G/A EDGAR
  13. Aug 13, 2026SCHEDULE 13G/A EDGAR
  14. Aug 12, 202610-K EDGAR
  15. Aug 12, 20268-K EDGAR
  16. Jun 24, 20264 EDGAR
  17. Jun 15, 20264 EDGAR
  18. Jun 12, 2026144 EDGAR
  19. Jun 11, 2026144 EDGAR
  20. Jun 8, 20268-K EDGAR

The 345 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

16 open-market trades by officers, directors and large owners since October 2021: 2 buys and 14 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 11, 2026D'Ambrosio Philip GerardEVP and TreasurerSale9,907$74.48$737.9KForm 4
Feb 20, 2026DOLAN CHARLES PDirectorSale19,311$63.76$1.2MForm 4
Mar 11, 2025Charles F. Dolan 2009 Revocable TrustSale6,015$32.43$195.1KForm 4
Mar 10, 2025Charles F. Dolan 2009 Revocable TrustSale67,143$30.96$2.1MForm 4
Sep 30, 2024D'Ambrosio Philip GerardEVP and TreasurerSale6,000$42.43$254.6KForm 4
Aug 20, 2024SALERNO FREDERIC VDirectorBuy5,000$41.25$206.2KForm 4
Mar 6, 2024DOLAN JAMES LAWRENCEExecutive Chairman & CEOSale37,000$38.10$1.4MForm 4
Mar 4, 2024DOLAN JAMES LAWRENCEExecutive Chairman & CEOSale100,000$38.20$3.8MForm 4
Feb 28, 2024DOLAN JAMES LAWRENCEExecutive Chairman & CEOSale28,796$37.71$1.1MForm 4
Feb 27, 2024DOLAN JAMES LAWRENCEExecutive Chairman & CEOSale39,303$36.95$1.5MForm 4
Feb 26, 2024DOLAN JAMES LAWRENCEExecutive Chairman & CEOSale24,284$37.31$906.0KForm 4
Feb 20, 2024D'Ambrosio Philip GerardEVP and TreasurerSale2,578$37.73$97.3KForm 4
Feb 16, 2024D'Ambrosio Philip GerardEVP and TreasurerSale7,100$37.89$269.0KForm 4
Sep 22, 2023Sphere Entertainment Co.10% ownerSale8,221,188$31.20$256.5MForm 4
Jun 27, 2023Sphere Entertainment Co.10% ownerSale6,877,553$29.76$204.7MForm 4
Jun 27, 2023DOLAN THOMAS CHARLESDirectorBuy322,580$31.00$10.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Madison Square Garden Entertainment Corp. has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025James L. DolanExecutive Chairman and Chief Executive Officer$1.5M$14.2M60
2025Michael J. GrauFormer Executive Vice President and Chief Financial Officer$285.8K$4.5M60
2025Philip G. D’AmbrosioExecutive Vice President and Treasurer$750.0K$2.8M60
2025Layth TakiSenior Vice President, Controller and Principal Accounting Officer$404.1K$2.1M60
2025Laura FrancoExecutive Vice President and General Counsel$550.0K$1.9M60
2025Lee WeinbergSenior Vice President, Business and Financial Operations and Former Interim Chief Financial Officer$565.7K$1.6M60
2025David J. CollinsExecutive Vice President and Chief Financial Officer$149.6K$1.1M60
2024James L. DolanExecutive Chairman and Chief Executive Officer$1.0M$10.2M60
2024Philip G. D’AmbrosioExecutive Vice President and Treasurer$750.0K$2.8M60
2024Laura FrancoExecutive Vice President and General Counsel$188.3K$2.0M60
2024Michael J. GrauFormer Executive Vice President and Chief Financial Officer$255.8K$1.5M60
2023James L. DolanExecutive Chairman and Chief Executive Officer$176.9K$9.3M60
2023Philip G. D’AmbrosioExecutive Vice President and Treasurer$146.9K$1.1M60

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ariel Investments, LLC5,302,754$428.9M4.3%−802,829
Jericho Capital Asset Management L.P.3,662,724$296.3M2.4%No change
BlackRock, Inc.3,124,507$252.7M0.0%+257,191
Vanguard Portfolio Management LLC1,849,716$149.6M0.0%+78,512
Vanguard Capital Management LLC1,754,802$141.9M0.0%−5,710
Assenagon Asset Management S.A.1,726,924$139.7M0.1%+516,206
Point72 Asset Management, L.P.1,526,701$123.5M0.2%−275,052
Morgan Stanley1,267,749$102.5M0.0%+12,078
Geode Capital Management, LLC1,183,900$95.8M0.0%+64,613
Goldman Sachs Group Inc1,140,934$92.3M0.0%+470,053
Channing Capital Management, LLC975,012$78.9M1.8%−344,068
State Street Corp965,738$78.1M0.0%+43,774
Dendur Capital LP866,000$70.1M4.1%−354,000
Dimensional Fund Advisors LP815,103$65.9M0.0%+4,902
Systematic Financial Management LP768,688$62.2M1.2%−26,513
Clearbridge Investments, LLC747,025$60.4M0.0%−55,090
Nuveen, LLC670,712$54.3M0.0%−2,814
Gamco Investors, Inc. Et Al605,197$49.0M0.4%−23,105
Citadel Advisors LLC520,000$42.1M0.0%+316,888
Millennium Management LLC512,995$41.5M0.0%+125,081
Gabelli Funds LLC498,952$40.4M0.3%−1,468
Northern Trust Corp486,203$39.3M0.0%+9,600
Qube Research & Technologies Ltd414,888$33.6M0.0%+109,137
D. E. Shaw & Co., Inc.412,139$33.3M0.0%+95,149
Algert Global LLC402,309$32.5M0.4%+15,414

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Madison Square Garden Entertainment Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMadison Square Garden Entertainment Corp.1
  • CIK0001952073
  • Employer ID (EIN)92-03188134
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inNevada4
  • Fiscal year endsJune 301
  • Industry code (SIC)7990 Services-Miscellaneous Amusement & Recreation1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressTwo Pennsylvania Plaza, New York, NY 101211
  • Phone(212) 465-60001
  • Shares outstanding40,438,480 Common Class A shares; 6,866,754 Common Class B shares as of Jul 31, 20264
  • Public float$2.1B as of Dec 31, 20254
  • AuditorDeloitte & Touche LLP, New York, NY PCAOB ID 34; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceOct 26, 20221
  • Filings353 in all: 4 (148), 3 (39), 8-K (38), 144 (23), SCHEDULE 13G/A (13), CORRESP (11), 10-Q (10), UPLOAD (10)1
    All 31 form types

    SC 13G (7), SC 13D/A (5), SCHEDULE 13D/A (5), 10-K (4), DEF 14A (4), DEFA14A (4), FWP (4), 10-12B/A (3), DRS (3), SC 13G/A (3), SCHEDULE 13G (3), 424B4 (2), EFFECT (2), S-1 (2), SC 13D (2), 10-12B (1), 144/A (1), CERT (1), DRS/A (1), DRSLTR (1), PRE 14A (1), S-8 (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Aug 12, 2026
    Quarterly report (10-Q) May 7, 2026
    Proxy statement (DEF 14A) Oct 24, 2025
    Latest 8-K (8-K) Aug 12, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common StockMSGENew York Stock Exchange

From the cover page of the 10-K filed Aug 12, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Madison Square Garden Entertainment Corp. names in Item 1A of its 10-K filed Aug 12, 2026: 31 risks under these headings, as written.4

  • Risks Related to Our Business
  • Our business faces intense and wide-ranging competition that may have a material negative effect on our business and results of operations.
  • The success of our business depends on the continued popularity of the Christmas Spectacular production, and the entertainment and sporting events we host at our venues, the decline of which could have a material negative effect on our business and results of operations.
  • Our business strategy may, in the future, include the development of new productions, which could require us to make considerable investments for which there can be no guarantee of success.
  • We depend on licenses from third parties for the performance of musical works at our venues, the loss of which or renewal of which on less favorable terms may have a negative effect on our business and results of operations.
  • Our properties are subject to, and benefit from, certain easements, the availability of which may not continue on terms favorable to us or at all.
  • A change to or withdrawal of a New York City real estate tax exemption for the Madison Square Garden Complex may have a material negative effect on our business and results of operations.
  • Economic and Operational Risks
  • Our business has been adversely impacted and may, in the future, be materially adversely impacted by an economic downturn, recession, financial instability, inflation or changes in consumer tastes and preferences.
  • Our operations and operating results have been, and may in the future be, materially impacted by a pandemic or other public health emergency.
  • We do not own all of our venues and are subject to risks associated with leasing these venues and our corporate office space, any of which may have a material negative effect on our business and results of operations.
  • The geographic concentration of our business could subject us to greater risk than our competitors and have a material negative effect on our business and results of operations.
The other 21 risks
  • Our business could be adversely affected by terrorist activity or the threat of terrorist activity, weather and other conditions that discourage congregation at prominent places of public assembly.
  • We may pursue acquisitions and other strategic transactions and/or investments to complement or expand our business that may not be successful.
  • The redevelopment of Penn Station may disrupt the operations of The Garden, which may adversely affect our business and results of operations.
  • We are subject to extensive governmental regulation and our failure to comply with these regulations may have a material negative effect on our business and results of operations.
  • Labor matters may have a material negative effect on our business and results of operations.
  • There is a risk of injuries and accidents in connection with our venues, which could subject us to personal injury or other claims; we are subject to the risk of adverse outcomes or negative publicity in other types of litigation.
  • Risks Related to Indebtedness and Financial Condition
  • We have substantial indebtedness and are highly leveraged, which could adversely affect our business.
  • We have in the past incurred substantial operating losses, adjusted operating losses and negative cash flow and there is no assurance we will have operating income, positive adjusted operating income or positive cash flow in the future.
  • Risks Related to Cybersecurity and Intellectual Property
  • The success of our business and other operations depends, in part, on the integrity of our systems and infrastructure, as well as affiliate and third-party computer systems, computer networks and other communication systems. System interruption and the lack of integration and redundancy in these systems and infrastructure may have an adverse impact on our business, financial condition and results of operations.
  • We rely upon cloud computing services to operate certain aspects of our business and any disruption of or interference with our use of these services would impact our operations and our business could be adversely impacted.
  • We face continually evolving cybersecurity and similar risks, which could result in loss, disclosure, theft, destruction or misappropriation of, or access to, our confidential information and cause disruption of our business, damage to our brands and reputation, legal exposure and financial losses.
  • We have in the past and may in the future become subject to infringement or other claims relating to our content or technology.
  • Theft of our intellectual property may have a material negative effect on our business and results of operations.
  • Corporate Governance Risks
  • We are materially dependent on affiliated entities’ performances under various agreements.
  • We may have a significant indemnity obligation to Sphere Entertainment if the MSGE Distribution is treated as a taxable transaction.
  • Certain adverse U.S. federal income tax consequences might apply to non-U.S. holders that hold our Class A common stock if we are treated as a USRPHC.
  • We are controlled by the Dolan Family. As a result of their control, the Dolan Family has the ability to prevent or cause a change in control or approve, prevent or influence certain actions by the Company.
  • We have elected to be a “controlled company” for NYSE purposes, which allows us not to comply with certain of the corporate governance rules of the NYSE.
  • Future stock sales, including as a result of the exercise of registration rights by certain of our stockholders, could adversely affect the trading price of our Class A common stock.
  • We share certain directors and officers with Sphere Entertainment, MSG Sports and/or AMC Global Media, which means those officers will not devote their full time and attention to our affairs and the overlap may give rise to conflicts.
  • Our overlapping directors and officers with Sphere Entertainment, MSG Sports and/or AMC Global Media may result in the diversion of corporate opportunities to Sphere Entertainment, MSG Sports and/or AMC Global Media, and other conflicts, and provisions in our articles of incorporation may provide us no remedy in that circumstance.
  • Available Information

Legal proceedings

The Company is a defendant in various lawsuits. Although the outcome of these lawsuits cannot be predicted with certainty (including the extent of available insurance, if any), management does not believe that resolution of these lawsuits will have a material adverse effect on the Company.

The opening of Item 3, Legal Proceedings.4

Sources

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  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60