MSGE - MSG Entertainment closes acquisition of MSG Networks

littleny/iStock via Getty Images Madison Square Garden Entertainment (MSGE) has closed its acquisition of MSG Networks (MSGN), bringing togather the MSG media and entertainment assets. That results in a company with greater scale and revenue diversity, MSGE says, and enhanced financial flexibility. “We are pleased to complete this transaction, creating a stronger, more diversified company with both strategic and financial benefits," says Andrew Lustgarten, who will continue to serve as president of MSG Entertainment. "We look forward to utilizing our collective portfolio of complementary assets to drive new opportunities for customers and partners, as well as long-term value for shareholders.” Andrea Greenberg will join MSG Entertainment and serve as president and CEO of MSG Networks, with both reporting to MSGE Chairman/CEO James Dolan. MSGN shareholders received 0.172 shares of MSG Entertainment Class A or Class B common stock for each share of MSGN they held, in a transaction structured to

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MSG Entertainment closes acquisition of MSG Networks