Madison Square Garden Entertainment Corp. (NYSE:MSGE) is one of the top stocks to buy according to Ariel Investments. On June 9, Madison Square Garden Entertainment Corp. (NYSE:MSGE) entered into a non-binding agreement with Penn Transformation Partners for the development of the New York Penn Station.
Under the terms of the agreement, Madison Square Garden will remain fully operational at all times during construction. The agreement also paves the way for the transfer of the Infosys Theater at MSG to the master developer. The theater transfer and the broader Penn Station development are subject to further negotiation.
The MOU follows the Trump administration’s selection of a design for a reimagined Penn Station that would leave Madison Square Garden at its current location. However, the design will demolish the 5,000-seat Infosys theater to pave the way for the construction of a grand new station entrance on Eighth Avenue. The plan will allow natural light and extra space into Penn by constructing a multi-level, glass-encased podium.
Madison Square Garden Entertainment Corp. (NYSE:MSGE) owns and operates iconic live entertainment venues, books major touring acts and sporting events, and produces the annual Christmas Spectacular Starring the Radio City Rockettes.
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‘ Some details of this article were extracted from the following source finance.yahoo.com ’
