Madison Square Garden (MSG) is currently in the process of breaking itself up again, this time into a sports team business (ex. Knicks and Rangers) and a venue/concerts business. Naturally, this has led to more people taking a look at the name and the upcoming catalyst has Barron’s thinking the company offers a lot of upside. The company’s… Read More »
Lets take a look at some recent spinoff news from the large asset manager: 1) Horizon Kinetics Likes Conduent (CNDT) At the very end of 2016, Xerox (XRX) spun off its business process outsourcing unit Conduent. After an initial dip, shares have recovered, but overall, the stock has mostly been flat since the spinoff. That isn’t a terrible outcome… Read More »
The Dolan family has spent the better part of the decade spinning off assets. The dynasty behind Cablevision(CVC) spun off the Madison Square Garden Company(MSG) in 2010, followed by AMC Networks(AMCX) in 2011. Now, all three companies are in the midst of radical transformations. Early this morning, Cablevision announced that it would be acquired by French telecom Altice… Read More »
We wrote last week about Madison Square Garden Company’s(MSG) plan to explore a spinoff of its sports and entertainment business. The company is in the early stages of planning this transaction and there still remain many unanswered questions. Capital New York reports that CEO Tad Smith confirmed on last Friday’s earnings conference call that the company has not… Read More »