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Slide #12. The Madison Square Garden Company — Stake in Tribeca Enterprises
The Madison Square Garden Company (MSG)
Stake in Tribeca Enterprises
The Madison Square Garden Company (Nasdaq:MSG) and Tribeca Enterprises, the company that owns and operates the acclaimed Tribeca Film Festival (TFF) and other businesses, announced today that MSG has purchased a 50 percent interest in a transaction that values Tribeca Enterprises at $45 million. The partnership brings together two of New York's most important cultural and entertainment icons to enhance the reach and impact of both brands, while creating new avenues for growth.
Madison Square Garden is a holding company. Through its subsidiaries, Co. is engaged in the sports and entertainment business. Co. is comprised of two business segments: MSG Entertainment and MSG Sports. MSG Entertainment presents or hosts live entertainment events, including concerts and other live events such as family shows, performing arts events and special events, in Co.'s collection of venues. MSG Entertainment also creates, produces and/or presents live productions that are performed in Co.'s venues, including the Christmas Spectacular, which features the Rockettes. MSG Sports owns and operates sports franchises, including the New York Knicks and the New York Rangers.
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Strong Buy (3.60 out of 4)
(ranked lower than approx. 61% of all stocks covered)
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