Sphere Entertainment Co. Enters Material Agreement, Incurs Financial Obligation
Ticker: SPHR · Form: 8-K · Filed: 2024-11-26T00:00:00.000Z
Sentiment: neutral
Topics: material-agreement, financial-obligation, corporate-action
TL;DR
Sphere Entertainment Co. just signed a big deal with a new financial obligation. Keep an eye on this.
AI Summary
Sphere Entertainment Co. entered into a material definitive agreement on November 26, 2024. This agreement creates a direct financial obligation for the registrant. The filing also includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Sphere Entertainment Co., which could impact its financial health and future operations.
Risk Assessment
Risk Level: medium — Entering into new material definitive agreements and incurring financial obligations can introduce financial risks and uncertainties.
Key Players & Entities
- Sphere Entertainment Co. (company) — Registrant
- November 26, 2024 (date) — Date of earliest event reported
- Madison Square Garden Entertainment Corp. (company) — Former company name
- MSG ENTERTAINMENT SPINCO, INC. (company) — Former company name
FAQ
What is the nature of the material definitive agreement entered into by Sphere Entertainment Co.?
The filing states that Sphere Entertainment Co. entered into a material definitive agreement on November 26, 2024, but the specific details of the agreement are not provided in this summary.
What type of financial obligation has been created?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of the registrant.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on November 26, 2024.
What were Sphere Entertainment Co.'s former company names?
Sphere Entertainment Co. was formerly known as Madison Square Garden Entertainment Corp. and MSG ENTERTAINMENT SPINCO, INC.
What is the primary business of Sphere Entertainment Co. according to its SIC code?
Sphere Entertainment Co.'s Standard Industrial Classification (SIC) code is 7900, which falls under SERVICES-AMUSEMENT & RECREATION SERVICES.
From the Filing
0001193125-24-266120.txt : 20241126 0001193125-24-266120.hdr.sgml : 20241126 20241126161529 ACCESSION NUMBER: 0001193125-24-266120 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20241126 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241126 DATE AS OF CHANGE: 20241126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sphere Entertainment Co. CENTRAL INDEX KEY: 0001795250 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AMUSEMENT & RECREATION SERVICES [7900] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 843755666 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39245 FILM NUMBER: 241503984 BUSINESS ADDRESS: STREET 1: TWO PENNSYLVANIA PLAZA CITY: NEW YORK STATE: NY ZIP: 10121 BUSINESS PHONE: (212) 465-6000 MAIL ADDRESS: STREET 1: TWO PENNSYLVANIA PLAZA CITY: NEW YORK STATE: NY ZIP: 10121 FORMER COMPANY: FORMER CONFORMED NAME: Madison Square Garden Entertainment Corp. DATE OF NAME CHANGE: 20200417 FORMER COMPANY: FORMER CONFORMED NAME: MSG ENTERTAINMENT SPINCO, INC. DATE OF NAME CHANGE: 20191126 8-K 1 d899421d8k.htm 8-K 8-K false 0001795250 0001795250 2024-11-26 2024-11-26     UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of report (Date of earliest event reported): November 26, 2024     SPHERE ENTERTAINMENT CO. (Exact Name of Registrant as Specified in Charter)       Delaware   001-39245   84-3755666 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   Two Pennsylvania Plaza , New York , NY   10121 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (725) 258-0001 Not Applicable (Former name or former address, if changed since last report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b)).   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c)). Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of Each Exchange on Which Registered Class A Common Stock   SPHR   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐       Item 1.01. Entry into a Material Definitive Agreement. As previously reported, on October 11, 2024, MSGN Holdings L.P. (“MSGN L.P.”), an indirect wholly owned subsidiary of Sphere Entertainment Co. (the “Company”), the guarantors identified therein (the “Guarantors