MSG Sports Plans Oct. 26 Rangers Spin-Off and Separate Stock Trading
Photo: TokenPost
Madison Square Garden Sports Corp. plans to separate its New York Rangers and New York Knicks businesses on Oct. 26, giving shareholders stakes in two sports companies expected to trade separately. Shareholders of record at the close of business on Oct. 20 are due one share in the Rangers company for every two MSG Sports shares of the corresponding class. The distribution is scheduled to take effect at 11:59 p.m. ET on Oct. 26 (3:59 a.m. UTC on Oct. 27). The existing company will take the name MSG Knickerbockers Corp. and retain the New York Knicks and Westchester Knicks.
Source: TokenPost
