Madison Square Garden is going ahead with plans to split into two separate companies – one focused on sports, the other entertainment – ending what has been about five months of speculation concerning the split.
MSG said back in October that it had authorized its board of directors to explore the split.
The move to go through with the split also silences some speculation that it would be on hold after CEO Tad Smith announced he would leave to become CEO of auction house Sotheby’s at the end of March. Company executive chairman James Dolan will assume Smith’s duties as it searches for a permanent replacement.
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