By Dade Hayes. The Madison Square Garden Company said Tuesday it has notified the SEC of its plan to spin off its entertainment business and tighten its Madison Square Garden Company focus on sports.

In a press release, the Graden said it expects to complete the spinoff by the first quarter of Its entertainment portfolio includes Madison Square Garden and the adjacent Hulu Theatre, both of which have year-round entertainment bookings, Madison Square Garden Company well as fabled Manhattan venues like Radio City Music Hall and the Beacon Theatre. The Dolans rose to prominence by running Cablevision, for decades a top cable distributor that became a force in real estate and sports.

Over time, it also owned Newsday and also the Clearview movie theater chain. At one point, the Dolans also operated the Rainbow Media cable network portfolio, but it was rebranded as AMC Networks and spun off as a separate public company in MSG Networks, meanwhile, is a separate, publicly traded company that owns regional sports networks.

The latest spinoff, which has been expected, is to be structured as a tax-free spinoff for MSG shareholders. Owners of MSG common shares would continue to hold stakes in both the sports and entertainment entities. As previously announced, the proposed separation of the sports and entertainment business Madisln be structured as a tax-free spin-off to all MSG shareholders.

Upon completion of the transaction, record holders of MSG common stock would continue to maintain their current economic Madison Square Garden Company in both the sports and entertainment businesses. Also in the mix would be productions like the Radio City Rockettes.

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Investors The Madison Square Garden Company

The Madison Square Garden Company (MSG) is a world leader in live sports and entertainment experiences. The company presents or hosts a broad array of premier events in its diverse collection of iconic venues: New York’s Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; the Forum in Inglewood, CA; and The Chicago Theatre.…

Madison Square Garden - Wikipedia

Madison Square Garden hosts approximately 320 events a year. It is the home to the New York Rangers of the National Hockey League, and the New York Knicks of the National Basketball Association. The New York Rangers, New York Knicks, and the Madison Square Garden arena itself are all owned by the Madison Square Garden Company.Location: New York City, New York…