Madison Square Garden Entertainment explores possible spinoff that would include iconic NY arena

Fans arrive to Madison Square Garden before the game between the Golden State Warriors and New York Knicks on February 23, 2021 in New York City.

Madison Square Garden Entertainment is exploring a spinoff of its live entertainment business.

The spinoff would include the company's performance venues, as well as its entertainment and sports booking, the Radio City Rockettes and the "Christmas Spectacular" production.

The New York Knicks and the New York Rangers would be controlled by the new company.

The first of a series of multi-sensory performance venues is currently under construction in Las Vegas.

Madison Square Garden Entertainment's shares rose after the market closed.