Highest-materiality recent filing
Sphere Entertainment Q1 revenue up 38% to $386.4M; adjusted operating income $110M
Revenue $386.4M (+38% YoY); operating income $7.2M vs loss of $78.6M.
Q4 revenue $394.3M (+28% YoY); operating income $28.9M vs loss of $142.9M prior year.
Sphere subsidiary MSG Las Vegas enters $550M credit facility maturing 2031
MSG Las Vegas, LLC obtained $275M term loan and $275M revolving credit facility.
Revenue $262.5M (+15% YoY); operating loss $129.7M vs $117.6M; adjusted operating income $36.4M vs -$10.2M.
Sphere Entertainment Q2 rev $282.7M, op loss narrows to $50.2M; Sphere rev up 16%
Q2 revenue $282.7M (+3% YoY); operating loss improved to $50.2M from $71.4M.
Sphere Entertainment finalizes franchise agreements for second Sphere venue in Abu Dhabi
Finalized Franchise, Joint Development, and Pre-Opening Services Agreements with DCT Abu Dhabi for Sphere Abu Dhabi.
New $210M term loan facility replaces existing $514M debt; matures Dec 2029, SOFR+5%.
Sphere Entertainment Q1 revenue down 13%; operating loss widens to $78.6M
Revenue $280.6M, down $40.8M YoY; operating loss of $78.6M vs $40.4M loss a year ago.
Sphere Entertainment enters debt restructuring and media rights amendments for MSG Networks
Sphere to contribute $15M capital; existing credit facilities replaced with $210M term loan maturing Dec 2029 at SOFR+5.00%.
Sphere Entertainment subsidiary extends forbearance on $804M defaulted term loan to April 21, 2025
Forbearance period on $804.1M term loan default extended to April 21, 2025, from prior April 4 deadline.
Sphere Entertainment extends forbearance on $804M MSGN loan to April 2, 2025
Fifth amended forbearance agreement extends non-exercise of remedies on $804.1M term loan from Oct 2024 maturity default.
Sphere Entertainment Q2 revenue down 2% YoY; adjusted ops income falls 36%
Revenue $308.3M, down $5.9M YoY; operating loss improved $16.7M to $142.9M.
Sphere Entertainment subsidiary extends loan forbearance to March 26, 2025
MSGN L.P. owes $804.1M in principal plus $193,707.56 unpaid interest under Credit Agreement.
Sphere Entertainment subsidiary extends forbearance on MSGN credit facility until Feb 3, 2025
MSGN Holdings L.P. missed Oct 11, 2024 term loan maturity payment; forbearance previously extended to Jan 31, 2025.
Sphere Entertainment extends forbearance on $829M MSGN term loan default to Jan 31, 2025
Third Amended and Restated Forbearance Agreement extends forbearance period to Jan 31, 2025 from prior Jan 10, 2025 expiry.
Sphere Entertainment appoints Robert Langer as EVP, CFO and Treasurer effective Jan 13, 2025
Robert Langer, 60, former Disney finance executive, named CFO and Treasurer; reports to Executive Chairman & CEO.
Sphere sub extends forbearance to Jan 10, 2025 on $829M term loan default
Second Amended and Restated Forbearance Agreement extends forbearance period to January 10, 2025.
Sphere Entertainment extends debt forbearance on $829M term loan until Jan 10, 2025
MSGN Holdings L.P., subsidiary of Sphere, defaults on $829M term loan due Oct 11, 2024; interest unpaid $4.8M.
MSGN subsidiary defaults on $829M term loan; forbearance extended to Dec 20, 2024
MSGN Holdings L.P., a Sphere Entertainment subsidiary, failed to pay $829.125M principal on Oct 11, 2024 maturity.
Sphere extends MSGN loan forbearance to Nov 26; fee amounts doubled
Forbearance Period on MSGN term loan maturity default extended to Nov 26, 2024 (from Nov 8).
Sphere Entertainment Q1 revenue $227.9M (+93% YoY); adjusted operating loss narrows to $10.2M
Revenue up $109.9M YoY to $227.9M, led by Sphere segment ($127.1M vs $7.8M); MSG Networks revenue fell 9% to $100.8M.
Sphere Entertainment and DCT Abu Dhabi plan to develop the second Sphere venue in Abu Dhabi, UAE.
Sphere Entertainment unit defaults on $829M term loan; enters forbearance until Nov 8
MSGN Holdings missed $829M term loan payment due Oct 11, 2024, triggering Event of Default.
Sphere Entertainment CFO David Byrnes to depart; search for successor underway
David F. Byrnes, EVP, CFO and Treasurer, will leave Sphere Entertainment; a search for a new CFO has commenced.
Sphere Ent Q4 rev $273.4M (+112% YoY); FY adj op income $80.7M
Fiscal Q4 revenue $273.4M (+112% YoY); full-year revenue $1.03B (+79% YoY).
Sphere Entertainment renews CEO Jim Dolan with performance options for 2.78M shares, term to 2027
Annual base salary not less than $230,000; target bonus of 200% of base salary.
Sphere Entertainment Q3 rev $321.3M (+98% YoY); adj OI $61.5M; Sphere segment profitable
Revenue of $321.3M, up $159.3M (+98%) from prior year.
On March 24, 2025, Mr. Carl E. Vogel, a director elected by holders of the Class A Common Stock of Sphere Entertainment Co. (the “Company”), notified the Company of his intention not to stand for re-election when his term expires at the Company’s upcoming 2025 Annual Meeting of Stockholders anticipated to be held on June 4, 2025 (the “Annual Meeting”).
appointed Robert Langer, 60, as Executive Vice President, Chief Financial Officer and Treasurer effective as of January 13, 2025.
On October 8, 2024, Sphere Entertainment Co. (the “Company”) announced that Mr. David F. Byrnes, the Company’s Executive Vice President, Chief Financial Officer and Treasurer, will be leaving the Company.
Max materiality 0.90 · Median 0.65 · Most common event debt