By Jill Goldsmith Madison Square Garden Entertainment started its first day of trading Monday as a standalone company after being spun off from Madison Square Garden Sports.
The stock, trading under the symbol MSGE, was down 5% mid-morning on a rocky day for the market. “While the current environment presents significant challenges to our industry, we are confident in the future, and look forward to MSG Entertainment building on its reputation as a leader in live experiences,” said CEO James Dolan.
The spin-off distribution was completed at 11:59 p.m. on April 17 to stockholders of record of MSG as of the close of business April 13.
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