Madison Square Garden Entertainment Corp. Announces Share Repurchase of $25 Million in Class A Common Stock

Madison Square Garden Entertainment Corp. Makes $25 Million Stock Buyback

On December 3, 2024, Madison Square Garden Entertainment Corp. (NYSE: MSGE) disclosed that it has successfully repurchased 681,593 shares of its Class A common stock, amounting to a total expenditure of approximately $25 million. This strategic decision was executed between November 20, 2024, and December 2, 2024, at an average price of $36.68 per share. The repurchases were financed through cash reserves, highlighting the Company's financial health and commitment to shareholder value.

The recent buyback reflects MSG Entertainment's confidence in its stock's current trading price when juxtaposed with its promising long-term growth outlook. Since being carved out from Sphere Entertainment Co. in April 2023, Madison Square Garden Entertainment has acquired an impressive total of 5,046,960 shares of MSGE Class A common stock for an aggregated amount nearing $165 million. With approximately $85 million still available under the current share repurchase authorization, the Company remains well-positioned for future repurchase activities as necessary.

This repurchase is part of MSG Entertainment’s larger strategy to enhance shareholder value amidst the fluctuating market conditions. As a pivotal player in the live entertainment industry, MSG Entertainment boasts some of the most iconic venues in the world—these include New York’s Madison Square Garden, Radio City Music Hall, and the Beacon Theatre, among others.

Further enriching the entertainment experience is their longstanding holiday production, the Christmas Spectacular Starring the Radio City Rockettes, a cherished tradition enjoyed by millions each year.

Madison Square Garden Entertainment stands out not just as a venue operator, but also as a cornerstone of cultural experiences that spans sports, concerts, and family shows. Through its ambitious acquisition and repurchase strategy, the Company is not only solidifying its financial footing but also reinforcing its role as a leader within the dynamic entertainment landscape.

Investors should be aware, however, that such forward-looking statements regarding stock repurchases and market strategies carry inherent risks and uncertainties. Various factors, such as public perception and financial market conditions, could significantly influence the Company's performance outcomes. Detailed insights can be further explored in MSG Entertainment's filings with the Securities and Exchange Commission.

For more information about Madison Square Garden Entertainment and its diverse offerings, visit www.msgentertainment.com.