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MSG Entertainment to Acquire MSG Networks
- Client News
- March 26, 2021
Practices
Paul, Weiss is representing Moelis & Company LLC as independent financial advisors to the special committee of the board of directors of MSG Entertainment in Madison Square Garden Entertainment Corp.’s all-stock acquisition of MSG Networks Inc. Upon the closing of the transaction, MSG Networks stockholders will receive 0.172 shares of MSG Entertainment Class A or Class B common stock for each share of MSG Networks Class A or Class B common stock.
The combined company will have a stronger position to fund current and future growth initiatives, including its planned venue in Las Vegas, MSG Sphere at The Venetian, and to support its live entertainment business which, following the shutdown of its venues due to the pandemic, is now on a path back to normal operations. The transaction, which has been unanimously approved by the special committees of independent directors and boards of directors of both companies, is expected to be completed during the third quarter of 2021, subject to customary closing conditions.
The Paul, Weiss team includes corporate partners Jeffrey Marell and counsel Scott Grader.