Madison Square Garden Entertainment, a media company, completed the acquisition of MSG Networks, a sports media company, for c. $900m. MSG Networks stockholders received 0.172 shares of MSG Entertainment Class A or Class B common stock for each share of MSG Networks Class A or Class B common stock they own. "We are pleased to complete this transaction, creating a stronger, more diversified company with both strategic and financial benefits. We look forward to utilizing our collective portfolio of complementary assets to drive new opportunities for customers and partners, as well as long-term value for shareholders," Andrew Lustgarten, MSG Entertainment President.