06.28.18 - MSG shares soar as Dolan lays groundwork for sale of Knicks
"Late yesterday Dolan announced he was exploring a spin-off that would separate the Knicks and the Rangers from the rest of Madison Square Garden. If Dolan does in fact spin off the Knicks and the Rangers, it would mark the first time the teams haven't been owned by Madison Square Garden. The Garden has controlled the Rangers since the team was founded in 1926, while the Knicks were launched by an MSG president in 1946."
"Charles Dolan, founder of Cablevision and HBO, acquired the Garden and its teams for $650 million in 1997. He bequeathed them to his son Jim two years later. MSG's market value is now $7 billion and jumped more than 14% today on news that Dolan might be preparing his exit."