Madison Square Garden to Spin Off Media Business

MarketWatch: Madison Square Garden said it wants to spin off its sports and entertainment business from its media business, appointing new executives for “a pure play media company.” The spin-off of the media company, called MSG Networks, is expected on Sept. 30. Andrea Greenberg was named MSG Networks president and CEO, reporting to executive chairman James Dolan. Bret Richter was named the future company’s CFO.