Madison Square Garden Entertainment has completed its merger with MSG Networks. Shareholders of MSG Networks received 0.172 shares of MSG Entertainment for each share of MSG Networks they owned.

MSG Networks' GAAP net income for 9 months of fiscal year 2021 was $122.117 million, down 5.6% from $129.301 million in the previous year. Revenue decreased 9.8% to $481.455 million from $533.683 million a year earlier.

Madison Square Garden Entertainment will acquire MSG Networks. MSG Networks shareholders will receive 0.172 shares of MSG Entertainment Class A or B common stock for each MSG Networks Class A or B common stock they own. MSG The transaction is expected to close in Q3 2021.

Net income of MSG Networks under GAAP for the 6 months of the fiscal year 2021 amounted to $76.534 million, down 7.8% from $83.031 million in the previous year. Revenue decreased 12.9% to $303.602 million from $348.711 million a year earlier.