MSGE - Madison Square Garden near $1B sale of former Hulu Theater - report

2023-05-18 07:39:46 ET

• Madison Square Garden Entertainment ( NYSE: MSGE ) is in talks to sell its theater and service road for about $1 billion.
• An Italian private developer is negotiating to purchase the Theater at Madison Square Garden and demolish it as part of a plan for the rebuilt Penn Station, according a Crain's New York report , which cited people familiar.
• A source separately told the New York Post that an agreement is nowhere close to being signed.
• “As invested members of our community, we are deeply committed to improving Penn Station and the surrounding area, and we continue to collaborate closely with a wide range of stakeholders to advance this shared goal,” MSG told The Post in a statement.
• Earlier Madison Square Garden ( MSGE ) reported GAAP EPS of $0.42 beats by $0.21, revenue of $201.23 M beats by $9.23M

For further details see: