Madison Square Garden Co., in the process of separating its
sports and entertainment businesses from its media operations, will
transfer its stock listings to the New York Stock Exchange from the
Nasdaq Global Market, effective July 27.
The company will retain its "MSG" ticker symbol on NYSE, which
is owned by Intercontinental Exchange. Nasdaq and NYSE compete
fiercely over listings.
Madison Square Garden's businesses include the New York Knicks
and Rangers and the MSG regional sports television networks. Its
entertainment division organizes and hosts live events in venues
such as Manhattan's Radio City Music Hall and Madison Square
Garden, one of the country's biggest arenas.
In March, the company filed a registration statement to separate
its sports and entertainment operations from its media business.
The spinoff is expected to be complete by the end of the year.
After the split, both of the company's listings will trade on
NYSE.
In June, the company tapped sports-agency veteran David "Doc"
O'Connor as its next chief executive after its former top executive
left the company in March to lead Sotheby's.
Shares have increased about 11% this year through Monday's
close.
Write to Angela Chen at angela.chen@dowjones.com
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