MSG Entertainment Amends Stake in Townsquare Media

TL;DR

MSG Entertainment updated their Townsquare Media filing - check TSQ for ownership changes.

AI Summary

Madison Square Garden Entertainment Corp. (MSG) has filed an amendment (Amendment No. 2) to its Schedule 13D regarding Townsquare Media, Inc. (TSQ). The filing, dated March 5, 2024, indicates a change in beneficial ownership. MSG Entertainment previously held a significant stake and this amendment likely reflects adjustments to their holdings or reporting.

Why It Matters

This filing signals a potential shift in the ownership structure or strategy of Townsquare Media, which could impact its stock performance and future business decisions.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate strategic shifts or potential activist involvement, which may affect the company's stock.

Key Players & Entities

• Madison Square Garden Entertainment Corp. (company) — Filing entity
• Townsquare Media, Inc. (company) — Subject company
• MSG Entertainment (company) — Filing entity (abbreviated)

FAQ

Key Financial Figures

• $0.01 — suer) Class A Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• d782531dsc13da.htm (SC 13D/A) — 104KB
• 0001193125-24-059394.txt ( ) — 106KB

of this Amendment No. 2 is incorporated herein by reference

Item 3 of this Amendment No. 2 is incorporated herein by reference. Item5. Interest in Securities of the Issuer. The disclosure in Item 5 is hereby amended and restated to read in its entirety as follows: (a) The responses of the Reporting Persons to Rows (11) through (13) of the cover pages of this Schedule 13D are incorporated herein by reference. As of March 5, 2024, each of the Reporting Persons is the beneficial owner, and MSG National Properties is the direct owner, of 1,708,139 shares of Class A Common Stock, which represents approximately 11.5% of 14,805,703 shares of Class A Common Stock outstanding, calculated as the sum of (i) 13,680,703 shares of Class A Common Stock outstanding as of November 3, 2023, as described in the Quarterly Report on Form 10-Q of the Issuer filed with the Commission on November 9, 2023, plus (ii) the 1,125,000 shares of Class A Common Stock issued upon conversion of the same number of shares of Class C Common Stock. To the Reporting Persons knowledge, Philip DAmbrosio, the Executive Vice President & Treasurer of each Reporting Person, beneficially owns three shares of Class A Common Stock and jointly owns 30 shares of Class A Common Stock with his wife. Mr. DAmbrosio has disclaimed beneficial ownership of 82 shares of Class A Common Stock owned by his wife and 12 shares of Class A Common Stock owned by his children. To the Reporting Persons knowledge, none of the other Covered Persons directly owns any shares of Class A Common Stock as of March 5, 2024; provided , however , that each Covered Person may be deemed to be the beneficial owner of the shares of Class A Common Stock beneficially owned by such Reporting Person. Each of the Covered Persons disclaims beneficial ownership of the shares of Class A Common Stock reported herein pursuant to Rule 13d-4 of the Securities Exchange Act of 1934, as amended, and the filing of this Schedule 13D shall not be construed as an admission that any such Covered Person is the benefi

View Full Filing

View this SC 13D/A filing on SEC EDGAR