Madison Square Garden completed the spin off of Sphere Entertainment.

Madison Square Garden, an American sports and entertainment holding company, completed the spin off of Sphere Entertainment, a group comprising of Sphere, MSG Networks and Tao Group Hospitality businesses. “With today’s announcement, we are one step closer toward our goal of creating two distinct companies, each well positioned to generate long-term value for our shareholders," James L. Dolan, Madison Square Chairman and CEO.