Sphere Entertainment (SPHR) 10-Q5 Feb 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Dec. 31, 2023	Jan. 31, 2024
Document [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-39245
Entity Registrant Name	SPHERE ENTERTAINMENT CO.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3755666
Entity Address, Address Line One	Two Penn Plaza
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10121
City Area Code	725
Local Phone Number	258-0001
Title of 12(b) Security	Class A Common Stock
Trading Symbol	SPHR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001795250
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Class A
Document [Line Items]
Entity Common Stock, Shares Outstanding		28,272,107
Common Class B
Document [Line Items]
Entity Common Stock, Shares Outstanding		6,866,754

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands		Dec. 31, 2023	Jun. 30, 2023
Current Assets:
Cash, cash equivalents, and restricted cash		$ 627,827	$ 429,114
Prepaid expenses and other current assets		46,810	56,085
Total current assets		878,648	623,913
Non-Current Assets:
Investments in nonconsolidated affiliates		50,906	394,519
Property and equipment, net		3,287,933	3,307,161
Right-of-use lease assets		86,599	84,912
Goodwill		456,807	456,807
Intangible assets, net		16,353	17,910
Other non-current assets		106,038	87,793
Total assets		4,883,284	4,973,015
Current Liabilities:
Accounts payable, accrued and other current liabilities		391,903	515,731
Current portion of long-term debt, net		890,110	82,500
Operating lease liabilities, current		14,727	10,127
Deferred revenue		78,381	27,337
Total current liabilities		1,398,528	692,141
Non-Current Liabilities:
Long-term debt, net		521,413	1,118,387
Operating lease liabilities, non-current		109,296	110,259
Deferred tax liabilities, net		272,447	379,552
Other non-current liabilities		116,436	88,811
Total liabilities		2,418,120	2,389,150
Commitments and contingencies (see Note 10)
Equity:
Additional paid-in capital		2,365,913	2,376,420
Retained earnings		105,213	212,036
Accumulated other comprehensive loss		(6,314)	(4,938)
Total stockholders’ equity		2,465,164	2,583,865
Total liabilities and equity		4,883,284	4,973,015
Nonrelated Party
Current Assets:
Accounts receivable, net		179,964	112,309
Related Party
Current Assets:
Accounts receivable, net		24,047	26,405
Current Liabilities:
Related party payables, current		23,407	56,446
Common Class A
Equity:
Common stock	[1]	283	278
Common Class B
Equity:
Common stock	[2]	$ 69	$ 69

[1]Class A Common Stock, $0.01 par value per share, 120,000 shares authorized; 28,263 and 27,812 shares issued and outstanding as of December 31, 2023 and June 30, 2023, respectively.[2]Class B Common Stock, $0.01 par value per share, 30,000 shares authorized; 6,867 shares issued and outstanding as of December 31, 2023 and June 30, 2023.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2023	Jun. 30, 2023
Common Class A
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000	120,000
Common stock, shares, outstanding (in shares)	28,263	27,812
Common stock, shares, issued (in shares)	28,263	27,812
Common Class B
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000	30,000
Common stock, shares, outstanding (in shares)	6,867	6,867
Common stock, shares, issued (in shares)	6,867	6,867

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Revenues		$ 314,157	$ 159,541	$ 432,164	$ 282,670
Depreciation and amortization				(94,290)	(58,814)
Restructuring charges		(1,287)	(8,075)	(4,678)	(8,075)
Other (expense) income, net		(1,130)	(1,355)	41,066	(1,770)
Loss from continuing operations		(173,248)	(27,308)	(106,176)	(73,611)
Income (loss) from discontinued operations, net of taxes		0	97,865	(647)	100,125
Net (loss) income		(173,248)	70,557	(106,823)	26,514
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations			3,029		4,153
Net (loss) income attributable to Sphere Entertainment Co.’s stockholders		$ (173,248)	$ 67,584	$ (106,823)	$ 22,827
Basic (loss) earnings per common share
Continuing operations (in dollars per share)		$ (4.91)	$ (0.79)	$ (3.02)	$ (2.13)
Discontinued operations (in dollars per share)		0	2.74	(0.02)	2.79
Basic (loss) earnings per common share attributable to Sphere Entertainment Co.'s stockholders (in dollars per share)		(4.91)	1.95	(3.04)	0.66
Diluted (loss) earnings per common share
Continuing operations (in dollars per share)		(4.91)	(0.79)	(3.02)	(2.13)
Discontinued operations (in dollars per share)		0	2.74	(0.02)	2.79
Diluted (loss) earnings per common share attributable to Sphere Entertainment Co.'s stockholders (in dollars per share)		$ (4.91)	$ 1.95	$ (3.04)	$ 0.66
Weighted-average number of common shares outstanding:
Basic (in shares)		35,309	34,684	35,110	34,544
Diluted (in shares)		35,309	34,710	35,110	34,609
Continuing Operations
Revenues	[1]	$ 314,157	$ 159,541	$ 432,164	$ 282,670
Direct operating expenses	[1]	(159,766)	(90,400)	(244,265)	(165,820)
Selling, general and administrative expenses	[1]	(115,520)	(104,415)	(202,664)	(199,046)
Depreciation and amortization		(80,031)	(7,386)	(94,290)	(13,519)
Impairment and other (losses) gains, net		(117,235)	1,000	(115,738)	3,000
Restructuring charges		(1,287)	(8,075)	(4,678)	(8,075)
Operating loss		(159,682)	(49,735)	(229,471)	(100,790)
Interest income		5,926	2,669	10,304	6,002
Interest expense		(25,828)	0	(25,828)	0
Other (expense) income, net		(1,130)	(1,355)	41,066	(1,770)
Loss from continuing operations before income taxes		(180,714)	(48,421)	(203,929)	(96,558)
Income tax benefit		7,466	21,113	97,753	22,947
Net (loss) income		(173,248)	70,557	(106,823)	26,514
Discontinued Operations
Less: Net loss attributable to nonredeemable noncontrolling interests from discontinued operations		0	(56)	0	(466)
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations		$ 0	$ 3,029	$ 0	$ 4,153

[1]See Note 15. Related Party Transactions, for further information on related party revenues and expenses.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net (loss) income	$ (173,248)	$ 70,557	$ (106,823)	$ 26,514
Other comprehensive income (loss), before income taxes:
Other comprehensive income (loss), net of income taxes	4,669	12,418	(1,376)	(208)
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations		3,029		4,153
Comprehensive (loss) income attributable to Sphere Entertainment Co.’s stockholders	(168,579)	80,002	(108,199)	22,619
Continuing Operations
Net (loss) income	(173,248)	70,557	(106,823)	26,514
Other comprehensive income (loss), before income taxes:
Amortization of net actuarial gain (loss) included in net periodic benefit cost	103	510	(138)	1,020
Cumulative translation adjustments	6,199	14,803	(1,720)	(1,277)
Other comprehensive income (loss), before income taxes	6,302	15,313	(1,858)	(257)
Income tax (expense) benefit	(1,633)	(2,895)	482	49
Other comprehensive income (loss), net of income taxes	4,669	12,418	(1,376)	(208)
Comprehensive (loss) income	(168,579)	82,975	(108,199)	26,306
Discontinued Operations
Other comprehensive income (loss), before income taxes:
Less: Net loss attributable to nonredeemable noncontrolling interests from discontinued operations	0	(56)	0	(466)
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations	$ 0	$ 3,029	$ 0	$ 4,153

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
OPERATING ACTIVITIES:
Net (loss) income	$ (106,823)	$ 26,514
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	94,290	58,814
Impairment and other losses (gains), net	115,738	(7,885)
Amortization of debt discount and deferred financing costs	1,154	2,634
Amortization of deferred production content	5,545	0
Deferred income tax (benefit) expense	(106,690)	2,257
Share-based compensation expense	16,851	35,666
Non-cash lease expense	2,041	13,310
Net unrealized and realized loss on equity investments with readily determinable fair value and loss in nonconsolidated affiliates	19,880	2,978
Other non-cash adjustments	961	(435)
Change in assets and liabilities:
Accounts receivable, net	(67,492)	9,421
Related party receivables and payables, net	(30,681)	5,233
Prepaid expenses and other current and non-current assets	(5,652)	(22,513)
Accounts payable, accrued and other current and non-current liabilities	(54,033)	(42,690)
Deferred revenue	67,438	(17,295)
Right-of-use lease assets and operating lease liabilities	(765)	(11,044)
Net cash (used in) provided by operating activities	(48,238)	54,965
INVESTING ACTIVITIES:
Proceeds from sale of MSGE Retained Interest	256,501	0
Capital expenditures, net	(230,475)	(558,808)
Capitalized interest	(25,053)	(50,335)
Proceeds from dispositions, net	0	27,904
Proceeds from sale of equity securities	0	3,819
Other investing activities	0	1,511
Net cash provided by (used in) investing activities	973	(575,909)
FINANCING ACTIVITIES:
Proceeds from issuance of 3.50% Convertible Senior Notes due 2028	251,634	0
Proceeds from Delayed Draw Term Loan Facility	65,000	0
Taxes paid in lieu of shares issued for equity-based compensation	(14,618)	(14,980)
Principal repayments on long-term debt	(41,250)	(26,625)
Purchase of capped call related to 3.50% Convertible Senior Notes due 2028	(14,309)	0
Payments for financing costs	(484)	(5,112)
Proceeds from issuance of term loan	0	275,000
Noncontrolling interest holders’ capital contributions	0	2,000
Distributions to noncontrolling interest holders	0	(1,325)
Distributions to related parties associated with the settlement of certain share-based awards	0	(571)
Other financing activities	0	788
Net cash provided by financing activities	245,973	229,175
Effect of exchange rates on cash, cash equivalents, and restricted cash	5	(505)
Net increase (decrease) in cash, cash equivalents, and restricted cash	198,713	(292,274)
Cash, cash equivalents, and restricted cash at beginning of period	429,114	846,010
Cash, cash equivalents, and restricted cash at end of period	627,827	553,736
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures incurred but not yet paid	64,543	38,127
Non-cash repayment of the Delayed Draw Term Loan Facility	65,512	0
Share-based compensation capitalized in property and equipment	1,574	1,802
Continuing Operations
OPERATING ACTIVITIES:
Net (loss) income	(106,823)	26,514
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	94,290	13,519
Impairment and other losses (gains), net		(3,000)
Share-based compensation expense	16,799	27,845
FINANCING ACTIVITIES:
Cash, cash equivalents, and restricted cash at beginning of period	429,114	760,312
Cash, cash equivalents, and restricted cash at end of period	627,827	366,748
Discontinued Operations
FINANCING ACTIVITIES:
Cash, cash equivalents, and restricted cash at beginning of period	0	85,698
Cash, cash equivalents, and restricted cash at end of period	$ 0	$ 186,988

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical)	Dec. 08, 2023
3.50% Convertible Senior Notes \| Senior Notes
Interest rate	3.50%

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (UNAUDITED) - USD ($) $ in Thousands	Total	Total Sphere Entertainment Co. Stockholders’ Equity	Common Stock Issued	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Non - redeemable Noncontrolling Interests
Balance at the beginning of the period at Jun. 30, 2022	$ 1,975,384	$ 1,963,221	$ 342	$ 2,301,970	$ (290,736)	$ (48,355)	$ 12,163
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	22,361	22,827			22,827		(466)
Other comprehensive income (loss)	(208)	(208)				(208)
Share-based compensation	36,295	36,295		36,295
Tax withholding associated with shares issued for equity-based compensation	(14,980)	(14,980)	4	(14,984)
BCE disposition	667						667
Accretion of put options and adjustments	(895)	(895)		(895)
Contributions	2,000						2,000
Distributions	(1,704)	(379)		(379)			(1,325)
Balance at the end of the period at Dec. 31, 2022	2,018,920	2,005,881	346	2,322,007	(267,909)	(48,563)	13,039
Balance at the beginning of the period at Jun. 30, 2022	184,192
Increase (Decrease) in Redeemable Noncontrolling Interests [Roll Forward]
Net income (loss) attributable to redeemable noncontrolling interest	4,153
Noncontrolling interest non-cash acquisition attributable to redeemable noncontrolling interests	2,069
Noncontrolling interest, decrease from distributions to noncontrolling interest holders	(192)
Balance at the end of the period at Dec. 31, 2022	190,222
Balance at the beginning of the period at Sep. 30, 2022	1,918,726	1,907,003	342	2,303,135	(335,493)	(60,981)	11,723
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	67,528	67,584			67,584		(56)
Other comprehensive income (loss)	12,418	12,418				12,418
Share-based compensation	20,784	20,784		20,784
Tax withholding associated with shares issued for equity-based compensation	(1,013)	(1,013)	4	(1,017)
BCE disposition	667						667
Accretion of put options and adjustments	(895)	(895)		(895)
Contributions	1,500						1,500
Distributions	(795)						(795)
Balance at the end of the period at Dec. 31, 2022	2,018,920	2,005,881	346	2,322,007	(267,909)	(48,563)	13,039
Balance at the beginning of the period at Sep. 30, 2022	185,711
Increase (Decrease) in Redeemable Noncontrolling Interests [Roll Forward]
Net income (loss) attributable to redeemable noncontrolling interest	3,029
Noncontrolling interest non-cash acquisition attributable to redeemable noncontrolling interests	1,482
Balance at the end of the period at Dec. 31, 2022	190,222
Balance at the beginning of the period at Jun. 30, 2023	2,583,865	2,583,865	347	2,376,420	212,036	(4,938)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(106,823)	(106,823)			(106,823)
Other comprehensive income (loss)	(1,376)	(1,376)				(1,376)
Share-based compensation	18,425	18,425		18,425
Purchase of capped call related to 3.50% Convertible Senior Notes due 2028	(14,309)	(14,309)		(14,309)
Tax withholding associated with shares issued for equity-based compensation	(14,618)	(14,618)	5	(14,623)
Balance at the end of the period at Dec. 31, 2023	2,465,164	2,465,164	352	2,365,913	105,213	(6,314)	0
Balance at the end of the period at Dec. 31, 2023	0
Balance at the beginning of the period at Sep. 30, 2023	2,635,888	2,635,888	351	2,368,059	278,461	(10,983)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(173,248)	(173,248)			(173,248)
Other comprehensive income (loss)	4,669	4,669				4,669
Share-based compensation	12,636	12,636		12,636
Purchase of capped call related to 3.50% Convertible Senior Notes due 2028	(14,309)	(14,309)		(14,309)
Tax withholding associated with shares issued for equity-based compensation	(472)	(472)	1	(473)
Balance at the end of the period at Dec. 31, 2023	2,465,164	$ 2,465,164	$ 352	$ 2,365,913	$ 105,213	$ (6,314)	$ 0
Balance at the end of the period at Dec. 31, 2023	$ 0

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (UNAUDITED) (Parenthetical)	Dec. 08, 2023
3.50% Convertible Senior Notes \| Senior Notes
Interest rate	3.50%

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
Description of Business and Basis of Presentation	Dec. 31, 2023
Description Of Business And Basis Of Presentation [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Sphere Entertainment Co. (together with its subsidiaries, the “Company” or “Sphere Entertainment”) is a premier live entertainment and media company comprised of two reportable segments, Sphere and MSG Networks. Sphere is a next-generation entertainment medium, and MSG Networks operates two regional sports and entertainment networks, as well as a direct-to-consumer and authenticated streaming product. Sphere : This segment reflects Sphere TM , a next-generation entertainment medium powered by cutting-edge technologies that enable multi-sensory storytelling at an unparalleled scale. The Company’s first Sphere opened in Las Vegas in September 2023. The venue can accommodate up to 20,000 guests and can host a wide variety of events year-round, including The Sphere Experience TM , which features original immersive productions, as well as concerts and residencies from renowned artists, and marquee sporting and corporate events. Supporting this strategy is Sphere Studios TM , which is home to a team of creative, production, technology and software experts who provide full in-house creative and production services. The studio campus in Burbank includes a 68,000-square-foot development facility, as well as Big Dome, a 28,000-square-foot, 100-foot high custom dome, with a quarter-sized version of the interior display plane at Sphere in Las Vegas, that serves as a specialized screening, production facility, and lab for content at Sphere. MSG Networks: This segment is comprised of the Company’s regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as its direct-to-consumer and authenticated streaming product, MSG+. MSG Networks serves the New York designated market area, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania and features a wide range of sports content, including exclusive live local games and other programming of the New York Knicks (the “Knicks”) of the National Basketball Association (the “NBA”) and the New York Rangers (the “Rangers”), New York Islanders (the “Islanders”), New Jersey Devils (the “Devils”) and Buffalo Sabres (the “Sabres”) of the National Hockey League (the “NHL”), as well as significant coverage of the New York Giants (the “Giants”) and the Buffalo Bills (the “Bills”) of the National Football League (the “NFL”). The Company (formerly Madison Square Garden Entertainment Corp.) was incorporated on November 21, 2019 as a direct, wholly-owned subsidiary of Madison Square Garden Sports Corp. (“MSG Sports”). On April 17, 2020, MSG Sports distributed all outstanding common stock of the Company to MSG Sports’ stockholders (the “2020 Entertainment Distribution”). MSG Entertainment Distribution On April 20, 2023 (the “MSGE Distribution Date”), the Company distributed approximately 67% of the outstanding common stock of Madison Square Garden Entertainment Corp. (“MSG Entertainment”, formerly MSGE Spinco, Inc.) to its stockholders (the “MSGE Distribution”), with the Company retaining approximately 33% of the outstanding common stock of MSG Entertainment (in the form of MSG Entertainment Class A common stock) immediately following the MSGE Distribution (the “MSGE Retained Interest”). Following the MSGE Distribution Date, the Company retained the Sphere and MSG Networks businesses and MSG Entertainment now owns the traditional live entertainment business previously owned and operated by the Company through its Entertainment business segment, excluding the Sphere business. In the MSGE Distribution, stockholders of the Company received (a) one share of MSG Entertainment’s Class A common stock, par value $0.01 per share, for every share of the Company’s Class A common stock, par value $0.01 per share (“Class A Common Stock”), held of record as of the close of business, New York City time, on April 14, 2023 (the “Record Date”), and (b) one share of MSG Entertainment’s Class B common stock, par value $0.01 per share (“Class B Common Stock”), for every share of the Company’s Class B common stock, par value $0.01 per share, held of record as of the close of business, New York City time, on the Record Date. See Note 1. Description of Business and Basis of Presentation, to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023 (the “2023 Form 10-K”), for more information. As of December 31, 2023, following the sales of portions of the MSGE Retained Interest and the repayment of the delayed draw term loan with MSG Entertainment using a portion of the MSGE Retained Interest (further discussed in Note 6. Investments in Nonconsolidated Affiliates and Note 11. Credit Facilities and Convertible Notes), the Company no longer holds any of the outstanding common stock of MSG Entertainment. As of April 20, 2023, the MSG Entertainment business met the criteria for discontinued operations. See Note 3. Discontinued Operations, to the consolidated financial statements included in the 2023 Form 10-K, for more information about the MSGE Distribution. Tao Group Hospitality Disposition On May 3, 2023, the Company completed the sale of its 66.9% majority interest in TAO Group Sub-Holdings LLC (“Tao Group Hospitality”) to a subsidiary of Mohari Hospitality Limited, a global investment company focused on the luxury lifestyle and hospitality sectors (the “Tao Group Hospitality Disposition”). See Note 3. Discontinued Operations, for more information about the Tao Group Hospitality Disposition. Basis of Presentation The Company reports on a fiscal year basis ending on June 30 th (“Fiscal Year”). In these unaudited condensed consolidated financial statements, the years ended on June 30, 2024 and 2023 are referred to as “Fiscal Year 2024” and “Fiscal Year 2023,” respectively. The Company has presented both the MSG Entertainment business and Tao Group Hospitality as discontinued operations for all periods presented. See Note 3. Discontinued Operations, for further discussion on accounting for the MSGE Distribution and Tao Group Hospitality Disposition. The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions of Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “SEC”), and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for Fiscal Year 2023 included in the 2023 Form 10-K. In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company’s financial position as of December 31, 2023 and its results of operations for the three and six months ended December 31, 2023 and 2022, and cash flows for the six months ended December 31, 2023 and 2022. The condensed consolidated financial statements and the accompanying notes as of December 31, 2023 were derived from audited annual consolidated financial statements but do not contain all of the footnote disclosures from the audited annual consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results that might be expected for future interim periods or for the full year. Our MSG Networks segment earns a higher share of its annual revenues in the second and third quarters of its fiscal year as a result of MSG Networks’ advertising revenue being largely derived from the sale of inventory in its live NBA and NHL professional sports programming. Reclassifications For purposes of comparability, certain prior period amounts have been reclassified to conform to the current year presentation in accordance with GAAP.

Accounting Policies

Accounting Policies	6 Months Ended
Accounting Policies	Dec. 31, 2023
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of Sphere Entertainment Co. and its subsidiaries. They also historically included accounts of Tao Group Hospitality, MSG Entertainment, and Boston Calling Events, LLC (“BCE”) until their dispositions on May 3, 2023, April 20, 2023, and December 2, 2022, respectively. All significant intercompany transactions and balances have been eliminated in consolidation. Prior to their dispositions, Tao Group Hospitality and BCE were consolidated with the equity owned by other stockholders shown as redeemable or nonredeemable noncontrolling interests of discontinued operations in the accompanying condensed consolidated balance sheets, and the other stockholders’ portion of net earnings (loss) and other comprehensive income (loss) shown as net income (loss) or comprehensive income (loss) attributable to redeemable or nonredeemable noncontrolling interests from discontinued operations in the accompanying consolidated statements of operations and consolidated statements of comprehensive income (loss), respectively. See Note 3. Discontinued Operations, for details regarding the Tao Group Hospitality Disposition, and MSGE Distribution. See Note 2. Summary of Significant Accounting Policies, to the audited annual consolidated financial statements included in the 2023 Form 10-K, regarding the classification of redeemable noncontrolling interests of Tao Group Hospitality. Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the provision for credit losses, valuation of investments, goodwill, intangible assets, deferred production content costs, other long-lived assets, deferred tax assets, pension and other postretirement benefit obligations and the related net periodic benefit cost, ultimate revenue (as described below), and other liabilities. In addition, estimates are used in revenue recognition, rights fees, performance and share-based compensation, depreciation and amortization, litigation matters and other matters. Management believes its use of estimates in the condensed consolidated financial statements to be reasonable. Management evaluates its estimates on an ongoing basis using historical experience and other factors, including the general economic environment and actions it may take in the future. The Company adjusts such estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and cannot be determined with precision. In addition, these estimates are based on management’s best judgment at a point in time and, as such, these estimates may ultimately differ from actual results. Changes in estimates resulting from weakness in the economic environment or other factors beyond the Company’s control could be material and would be reflected in the Company’s condensed consolidated financial statements in future periods. Production Costs for the Company’s Original Immersive Productions The Company debuted its first original immersive production, Postcard From Earth TM , on October 6, 2023, which resulted in the amortization of the related production costs. The following reflects the Company’s complete policies with respect to immersive production costs. The Company defers certain costs during the production phase of its original immersive productions for Sphere that are directly related to production activities. Such costs include, but are not limited to, fees paid to writers, directors and producers as well as video and music production costs and production-specific overhead. For purposes of evaluating the recognition of amortization and any potential impairment, deferred immersive production costs are classified based on their predominant monetization strategy. The determination of the predominant monetization strategy is made at the commencement of production and is based on the means by which the Company expects to derive third-party revenues from use of the content. The Company’s primary monetization strategy and classification for its current content is on an individual production basis, which the Company defines as content where the lifetime value is predominantly derived from third-party revenues that are directly attributable to the specific production. The classification of content only changes if there is a significant change to the production’s monetization strategy relative to management’s initial assessment. Deferred immersive production costs are amortized beginning in the month the production debuts, in the same ratio that current period actual revenue bears to estimated remaining unrecognized ultimate revenue as of the beginning of the current fiscal year. Estimates of ultimate revenues are prepared on an individual production basis and reviewed regularly by management and revised where necessary to reflect the most current information. Ultimate revenues reflect management’s estimates of future revenue over a period not to exceed ten years following the premiere of the production. Deferred immersive production costs are subject to recoverability assessments whenever there is an indication of potential impairment. Liquidity and Going Concern As of the date the accompanying unaudited condensed consolidated financial statements were issued (the “issuance date”), management evaluated the presence of the following conditions and events at the Company in accordance with Accounting Standards Update (“ ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40): As of December 31, 2023, the Company’s unrestricted cash and cash equivalents balance was $614,549, as compared to $433,507 as of September 30, 2023. Included in unrestricted cash and cash equivalents as of December 31, 2023 was (1) $120,930 in advance cash proceeds primarily from ticket sales, a majority of which the Company expects to pay to artists and promoters, and (2) $82,687 of cash and cash equivalents at MSG Networks, which is not available for distribution to the Company in order to maintain compliance with the covenants under the MSG Networks Credit Facilities (as defined below). As of December 31, 2023, the Company’s restricted cash balance was $13,278, as compared to $18,235 as of September 30, 2023. In addition, as of December 31, 2023, the Company had $391,903 of accounts payable, accrued and other current liabilities, including $164,247 of capital expenditure accruals primarily related to Sphere construction (a significant portion of which is in dispute and which the Company does not expect to pay). The principal balance of the Company’s total debt outstanding as of December 31, 2023 was $1,424,750, including $891,000 of debt under the MSG Networks Credit Facilities, which is classified as short-term on the condensed consolidated balance sheets. Our primary sources of liquidity are cash and cash equivalents and cash flows from the operations of our businesses. The Company’s uses of cash over the next 12 months beyond the issuance date are expected to be substantial and include working capital-related items (including funding our operations), capital spending (including the creation of additional original content for Sphere), required debt service payments, and payments we expect to be made in connection with the refinancing of our indebtedness, and investments and related loans and advances that we may fund from time to time. We may also use cash to repurchase our common stock. The remaining net proceeds from the issuance of our 3.50% Convertible Senior Notes (as defined below) in December 2023 are to be used for general corporate purposes, including Sphere-related growth initiatives. Our decisions as to the use of our available liquidity will be based upon the ongoing review of the funding needs of our businesses, the optimal allocation of cash resources, and the timing of cash flow generation. To the extent that we desire to access alternative sources of funding through the capital and credit markets, market conditions could adversely impact our ability to do so at that time. Our ability to have sufficient liquidity to fund our operations and refinance the MSG Networks Credit Facilities is dependent on the ability of Sphere in Las Vegas to generate significant positive cash flow during Fiscal Year 2024. Although we anticipate that Sphere in Las Vegas will generate substantial revenue and adjusted operating income on an annual basis over time, there can be no assurance that guests, artists, promoters, advertisers and marketing partners will continue to embrace this new platform. Original immersive productions, such as Postcard From Earth , have not been previously pursued on the scale of Sphere, which increases the uncertainty of our operating expectations. To the extent that our efforts do not result in viable shows, or to the extent that any such productions do not achieve expected levels of popularity among audiences, we may not generate the cash flows from operations necessary to fund our operations. To the extent we do not realize expected cash flows from operations from Sphere in Las Vegas, we would have to take several actions to improve our financial flexibility and preserve liquidity, including significant reductions in both labor and non-labor expenses as well as reductions and/or deferrals in capital spending. Therefore, while we currently believe we will have sufficient liquidity from cash and cash equivalents and cash flows from operations (including expected cash flows from operations from Sphere in Las Vegas) to fund our operations and, at a minimum, make required quarterly amortization payments of $61,875 on the MSG Networks Credit Facilities, as described below, no assurance can be provided that our liquidity will be sufficient in the event any of the preceding uncertainties facing Sphere in Las Vegas are realized over the next 12 months beyond the issuance date. The Company also anticipates MSG Networks will pay a portion of its term loan upon refinancing of the MSG Networks Credit Facilities prior to its maturity in October 2024. As disclosed in Note 11. Credit Facilities and Convertible Notes, all of the outstanding borrowings under the MSG Networks Credit Facilities are guaranteed by the MSGN Guarantors (as defined under Note 11. Credit Facilities and Convertible Notes) and secured by the MSGN Collateral (as defined under Note 11. Credit Facilities and Convertible Notes). Sphere Entertainment Co., Sphere Entertainment Group, LLC (“Sphere Entertainment Group”) and the subsidiaries of Sphere Entertainment Group (collectively, the “Non-Credit Parties”) are not legally obligated to fund the outstanding borrowings under the MSG Networks Credit Facilities, nor are the assets of the Non-Credit Parties pledged as security under the MSG Networks Credit Facilities. Prior to maturity of the MSG Networks Credit Facilities in October 2024, MSG Networks expects to make $61,875 in required quarterly amortization payments on the MSG Networks Credit Facilities. The remaining outstanding borrowings under the MSG Networks Credit Facilities of $829,125 are scheduled to mature in October 2024, which is within one year of the issuance date of the accompanying unaudited condensed consolidated financial statements. However, MSG Networks will be unable to generate sufficient operating cash flows prior to the maturity to settle the remaining outstanding borrowings under the MSG Networks Credit Facilities when they become due. Therefore, management plans to refinance the MSG Networks Credit Facilities prior to maturity. Management has had discussions with certain of its lenders with respect to the refinancing of the MSG Networks Credit Facilities, which refinancing would include extending the maturity date and could also include amending certain terms, such as amortization, interest rates, covenants and financial ratios. While MSG Networks has historically been able to refinance its indebtedness, management can provide no assurance that MSG Networks will be able to refinance the MSG Networks Credit Facilities, or that such refinancing will be secured on terms that are acceptable to MSG Networks. In the event MSG Networks is unable to refinance the amount scheduled to mature under the MSG Networks Credit Facilities or secure alternative sources of funding through the capital and credit markets on acceptable terms, the lenders could exercise their remedies under the MSG Networks Credit Facilities, which would include, but not be limited to, declaring an event of default and foreclosing on the MSGN Collateral. In the event of an exercise of post-default rights and remedies, the Company believes the lenders would have no further remedies or recourse against the Non-Credit Parties pursuant to the terms of the MSG Networks Credit Facilities. While this condition raises substantial doubt about the Company’s ability to continue as a going concern, for the reasons stated in this paragraph, we have concluded this condition has been effectively alleviated and the Company will be able to continue as a going concern for at least one year beyond the issuance date of the accompanying unaudited condensed consolidated financial statements. Recently Issued and Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2023-07, Improvement to Reportable Segment Disclosures . This ASU aims to improve segment disclosures through enhanced disclosures about significant segment expenses. The standard requires disclosure of significant expense categories and amounts for such expenses, including those segment expenses that are regularly provided to the chief operating decision maker, easily computable from information that is regularly provided, or significant expenses that are expressed in a form other than actual amounts. This standard will be effective for the Company in Fiscal Year 2025 and is required to be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of the additional disclosure requirements on the Company’s condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures , a final standard on improvements to income tax disclosures which applies to all entities subject to income taxes. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. This standard will be effective for the Company in Fiscal Year 2026 and is required to be applied prospectively. The Company is currently evaluating the impact of the additional disclosure requirements on the Company’s condensed consolidated financial statements.

Discontinued Operations

Discontinued Operations	6 Months Ended
Discontinued Operations	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations As a result of the MSGE Distribution and Tao Group Hospitality Disposition, the results of the traditional live entertainment business previously owned and operated by the Company through its MSG Entertainment business segment (excluding the Sphere business) and the entertainment dining and nightlife business previously owned and operated by the Company through its Tao Group Hospitality business segment, as well as transaction costs related to the MSGE Distribution and Tao Group Hospitality Disposition, have been classified in the accompanying condensed consolidated statements of operations as discontinued operations. See Note 3. Discontinued Operations, to the consolidated financial statements included in the 2023 Form 10-K, for more information about the MSGE Distribution and Tao Group Hospitality Disposition. For the six months ended December 31, 2023, the Company recognized a loss from discontinued operations of $647, net of $294 of income tax benefit, related to the final purchase price adjustment from the Tao Group Hospitality Disposition. For the three months ended December 31, 2023, the Company did not recognize any loss from discontinued operations or any income tax benefit related to the final purchase price adjustment from the Tao Group Hospitality Disposition. The table below sets forth operating results of discontinued operations for the three and six months ended December 31, 2022. Amounts presented below differ from historically reported results for the MSG Entertainment and Tao Group Hospitality business segments due to reclassifications and adjustments made for purposes of discontinued operations. Three Months Ended December 31, 2022 MSG Entertainment Tao Group Hospitality Eliminations Total Revenues $ 348,637 $ 134,645 $ (625) $ 482,657 Direct operating expenses (181,730) (76,903) 871 (257,762) Selling, general and administrative expenses (36,237) (42,116) (462) (78,815) Depreciation and amortization (15,586) (6,087) — (21,673) Impairment and other gains, net 4,412 473 — 4,885 Restructuring charges (5,607) — — (5,607) Operating income 113,889 10,012 (216) 123,685 Interest income 911 23 — 934 Interest expense (58) (836) — (894) Other loss, net (2,171) (327) — (2,498) Income from operations before income taxes 112,571 8,872 (216) 121,227 Income tax expense (18,479) (4,883) — (23,362) Net income 94,092 3,989 (216) 97,865 Less: Net (loss) income attributable to nonredeemable noncontrolling interests (181) 125 — (56) Less: Net income attributable to redeemable noncontrolling interests — 3,029 — 3,029 Net income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders $ 94,273 $ 835 $ (216) $ 94,892 Six Months Ended December 31, 2022 MSG Entertainment Tao Group Hospitality Eliminations Total Revenues $ 494,712 $ 267,221 $ (1,187) $ 760,746 Direct operating expenses (282,393) (154,066) 1,247 (435,212) Selling, general and administrative expenses (64,966) (84,659) — (149,625) Depreciation and amortization (31,572) (13,723) — (45,295) Impairment and other gains, net 4,412 473 — 4,885 Restructuring charges (5,607) — — (5,607) Operating income 114,586 15,246 60 129,892 Interest income 1,519 36 — 1,555 Interest expense (1,083) (1,978) — (3,061) Other (loss) income, net (1,285) 727 — (558) Income from operations before income taxes 113,737 14,031 60 127,828 Income tax expense (21,415) (6,288) — (27,703) Net income 92,322 7,743 60 100,125 Less: Net (loss) income attributable to nonredeemable noncontrolling interests (553) 87 — (466) Less: Net income attributable to redeemable noncontrolling interests — 4,153 — 4,153 Net income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders $ 92,875 $ 3,503 $ 60 $ 96,438 As permitted under Accounting Standards Codification (“ASC”) Subtopic 205-20-50-5b(2), the Company has elected not to adjust the condensed consolidated statements of cash flows for the six months ended December 31, 2022 to exclude cash flows attributable to discontinued operations. The table below sets forth, for the period presented, significant selected financial information related to discontinued activities included in the accompanying condensed consolidated financial statements: Three Months Ended Six Months Ended December 31, 2022 December 31, 2022 MSG Entertainment Tao Group Hospitality MSG Entertainment Tao Group Hospitality Non-cash items included in net income: Depreciation and amortization $ 15,586 $ 6,087 $ 31,572 $ 13,723 Share-based compensation (credit) expense, net (543) 2,374 1,104 4,426 Cash flows from investing activities: Capital expenditures, net $ 4,353 $ 5,686 $ 9,208 $ 11,455

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Dec. 31, 2023
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Contracts with Customers See Note 2. Summary of Significant Accounting Policies and Note 4. Revenue Recognition, to the consolidated financial statements included in the 2023 Form 10-K, for more information regarding the details of the Company’s revenue recognition policies. All revenue recognized in the condensed consolidated statements of operations is considered to be revenue from contracts with customers in accordance with ASC Topic 606, Revenue From Contracts with Customers, except for revenues from subleases that are accounted for in accordance with ASC Topic 842, Leases. Disaggregation of Revenue The following tables disaggregate the Company’s revenue by major source and reportable segment based upon the timing of transfer of goods or services to the customer for the three and six months ended December 31, 2023 and 2022: Three Months Ended December 31, 2023 Sphere MSG Networks Total Event-related (a) $ 148,097 $ — $ 148,097 Sponsorship, signage, Exosphere TM advertising, and suite licenses revenues (b) 17,522 690 18,212 Media related, primarily from affiliation agreements (b) — 143,096 143,096 Other 1,418 2,572 3,990 Total revenues from contracts with customers 167,037 146,358 313,395 Revenues from subleases 762 — 762 Total revenues $ 167,799 $ 146,358 $ 314,157 Three Months Ended December 31, 2022 Sphere MSG Networks Total Sponsorship, signage, Exosphere advertising, and suite licenses (b) $ — $ 2,404 $ 2,404 Media related, primarily from affiliation agreements (b) — 154,401 154,401 Other — 2,093 2,093 Total revenues from contracts with customers — 158,898 158,898 Revenues from subleases 643 — 643 Total revenues $ 643 $ 158,898 $ 159,541 Six Months Ended December 31, 2023 Sphere MSG Networks Total Event-related (a) $ 152,156 $ — $ 152,156 Sponsorship, signage, Exosphere TM advertising, and suite licenses revenues (b) 20,082 908 20,990 Media related, primarily from affiliation agreements (b) — 252,891 252,891 Other 1,849 2,787 4,636 Total revenues from contracts with customers 174,087 256,586 430,673 Revenues from subleases 1,491 — 1,491 Total revenues $ 175,578 $ 256,586 $ 432,164 Six Months Ended December 31, 2022 Sphere MSG Networks Total Sponsorship, signage, Exosphere advertising, and suite licenses (b) $ — $ 2,648 $ 2,648 Media related, primarily from affiliation agreements (b) — 276,213 276,213 Other — 2,516 2,516 Total revenues from contracts with customers — 281,377 281,377 Revenues from subleases 1,293 — 1,293 Total revenues $ 1,293 $ 281,377 $ 282,670 _________________ (a) Event-related revenues consists of (i) the Sphere Experience, (ii) ticket sales and other ticket-related revenues, (iii) venue license fees from third-party promoters, and (iv) food, beverage and merchandise sales. Event-related revenues are recognized at a point in time. As such, these revenues have been included in the same category in the table above. (b) See Note 2. Summary of Significant Accounting Policies, Revenue Recognition, and Note 4. Revenue Recognition, to the consolidated financial statements included in the 2023 Form 10-K, for further details on the pattern of recognition of sponsorship, signage, Exosphere advertising, suite licenses, and media related revenue. In addition to the disaggregation of the Company’s revenue by major source based upon the timing of transfer of goods or services to the customer disclosed above, the following tables disaggregate the Company’s consolidated revenues by type of goods or services in accordance with the required entity-wide disclosure requirements of ASC Subtopic 280-10-50-38 to 40 and the disaggregation of revenue required disclosures in accordance with ASC Subtopic 606-10-50-5 for the three and six months ended December 31, 2023 and 2022: Three Months Ended December 31, 2023 Sphere MSG Networks Total Ticketing and venue license fee revenues (a) $ 121,821 $ — $ 121,821 Sponsorship, signage, Exosphere advertising, and suite revenues 23,406 — 23,406 Food, beverage, and merchandise revenues 21,810 — 21,810 Media networks revenues (b) — 146,358 146,358 Total revenues from contracts with customers 167,037 146,358 313,395 Revenues from subleases 762 — 762 Total revenues $ 167,799 $ 146,358 $ 314,157 Three Months Ended December 31, 2022 Sphere MSG Networks Total Media networks revenues (b) $ — $ 158,898 $ 158,898 Revenues from subleases 643 — 643 Total revenues $ 643 $ 158,898 $ 159,541 Six Months Ended December 31, 2023 Sphere MSG Networks Total Ticketing and venue license fee revenues (a) $ 124,628 $ — $ 124,628 Sponsorship, signage, Exosphere advertising, and suite revenues 26,306 — 26,306 Food, beverage, and merchandise revenues 23,153 — 23,153 Media networks revenues (b) — 256,586 256,586 Total revenues from contracts with customers 174,087 256,586 430,673 Revenues from subleases 1,491 — 1,491 Total revenues $ 175,578 $ 256,586 $ 432,164 Six Months Ended December 31, 2022 Sphere MSG Networks Total Media networks revenues (b) $ — $ 281,377 $ 281,377 Revenues from subleases 1,293 — 1,293 Total revenues $ 1,293 $ 281,377 $ 282,670 _________________ (a) Amounts include ticket sales, other ticket-related revenue, and venue license fees from the Company’s events such as (i) concerts, (ii) The Sphere Experience and (iii) other live entertainment and sporting events. (b) Primarily consists of affiliation fees from Distributors (as defined below) and, to a lesser extent, advertising revenues through the sale of commercial time and other advertising inventory during MSG Networks programming. Contract Balances The following table provides information about contract balances from the Company’s contracts with customers as of December 31, 2023 and June 30, 2023: As of December 31, June 30, 2023 2023 Receivables from contracts with customers, net (a) $ 180,589 $ 115,039 Contract assets, current (b) — 314 Deferred revenue, including non-current portion (c) 78,381 27,397 _________________ (a) Receivables from contracts with customers, net, which are reported in Accounts receivable, net in the Company’s condensed consolidated balance sheets, represent the Company’s unconditional rights to consideration under its contracts with customers. As of December 31, 2023 and June 30, 2023, the Company’s receivables from contracts with customers above included $625 and $2,730, respectively, related to various related parties. See Note 15. Related Party Transactions, for further details on these related party arrangements. (b) Contract assets current, which are reported as Prepaid expenses and other current assets in the Company’s condensed consolidated balance sheets, primarily relate to the Company’s rights to consideration for goods or services transferred to customers, for which the Company does not have an unconditional right to bill as of the reporting date. Contract assets are transferred to accounts receivable once the Company’s right to consideration becomes unconditional. (c) Revenue recognized for the three and six months ended December 31, 2023 relating to the deferred revenue balance as of June 30, 2023 was $19,254 and $20,724, respectively. Transaction Price Allocated to the Remaining Performance Obligations As of December 31, 2023, the Company’s remaining performance obligations were $175,820 of which 50% is expected to be recognized over the next two years and an additional 27% of the balance to be recognized in the following two years. This primarily relates to performance obligations under sponsorship agreements that have original expected durations longer than one year and for which the respective consideration is not variable. In developing the estimated revenue, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

Restructuring Charges

Restructuring Charges	6 Months Ended
Restructuring Charges	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges During Fiscal Year 2024, the Company incurred costs for termination benefits for certain executives and employees in the Sphere segment. As a result, the Company recognized restructuring charges of $1,287 and $4,678 for the three and six months ended December 31, 2023, respectively, which are recorded in Accounts payable, accrued and other current liabilities and Related party payables, current, on the condensed consolidated balance sheets. Restructuring charges of $8,075 were recorded for the three and six months ended December 31, 2022, respectively, which were recorded in Accounts payable, accrued and other current liabilities on the condensed consolidated balance sheets. Changes to the Company’s restructuring liability through December 31, 2023 were as follows: Restructuring Liability June 30, 2023 $ 8,891 Restructuring charges 4,678 Payments (6,820) December 31, 2023 $ 6,749

Investments in Nonconsolidated

Investments in Nonconsolidated Affiliates	6 Months Ended
Investments in Nonconsolidated Affiliates	Dec. 31, 2023
Equity Method Investments, Joint Ventures And Cost Method Investments [Abstract]
Investments in Nonconsolidated Affiliates	Investments in Nonconsolidated Affiliates The Company’s investments in nonconsolidated affiliates, which are accounted for under the equity method of accounting or as equity investments without readily determinable fair value, consisted of the following: Investment As of Ownership Percentage as of December 31, 2023 December 31, June 30, Equity method investments: SACO Technologies Inc. (“SACO”) 30 % $ 19,750 $ 22,246 Holoplot Loan (a) 21,741 20,971 Holoplot 25 % 694 1,542 MSG Entertainment (b) — % — 341,039 Equity investments without readily determinable fair values 8,721 8,721 Total investments in nonconsolidated affiliates $ 50,906 $ 394,519 _________________ (a) In January 2023, the Company, through an indirect subsidiary, extended financing to Holoplot GmbH (“Holoplot”) in the form of a three-year convertible loan (the “Holoplot Loan”) of €18,804, equivalent to $20,484 using the applicable exchange rate at the time of the transaction. Absent conversion, which is currently not available under the terms of the Holoplot Loan, the Holoplot Loan and interest accrued thereon are due and payable at the conclusion of the three-year term. (b) As of December 31, 2023, following the sale of portions of the MSGE Retained Interest and the repayment of the DDTL Facility (as defined below) with MSG Entertainment using a portion of the MSGE Retained Interest, the Company no longer holds any of the outstanding common stock of MSG Entertainment. The Company elected the fair value option for its investment in MSG Entertainment as of June 30, 2023, when it held approximately 20% of the outstanding shares of common stock of MSG Entertainment (in the form of Class A common stock). The fair value of the investment was determined based on quoted market prices on the New York Stock Exchange (“NYSE”), which were classified within Level I of the fair value hierarchy. The following table summarizes the realized and unrealized gain (loss) on equity investments with and without readily determinable fair values, which is reported in Other (expense) income, net, for the three and six months ended December 31, 2023 and 2022: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Unrealized gain $ — $ — $ — $ 1,969 Realized loss from shares of MSG Entertainment Class A common stock sold — — (19,027) — Total realized and unrealized (loss) gain on equity investments $ — $ — $ (19,027) $ 1,969 Supplemental information on realized loss: Shares of MSG Entertainment Class A common stock disposed (a) — — 1,923 — Shares of MSG Entertainment Class A common stock sold (b) — — 8,221 — Cash proceeds from shares of MSG Entertainment Class A common stock sold $ — $ — $ 256,501 $ — _________________ (a) Refer to Note 11. Credit Facilities and Convertible Notes, for further explanation of the approximately 1,923 shares disposed related to the repayment of the DDTL Facility. (b) The sale of approximately 8,221 shares of MSG Entertainment Class A common stock resulted in the cash proceeds from common stock sold.

Property and Equipment, net

Property and Equipment, net	6 Months Ended
Property and Equipment, net	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net As of December 31, 2023 and June 30, 2023, property and equipment, net consisted of the following: As of December 31, June 30, Land $ 44,569 $ 80,878 Buildings 2,287,504 69,049 Equipment, furniture, and fixtures 1,111,070 159,786 Leasehold improvements 18,491 18,491 Construction in progress 6,565 3,066,785 Total property and equipment, gross 3,468,199 3,394,989 Less accumulated depreciation and amortization (180,266) (87,828) Property and equipment, net $ 3,287,933 $ 3,307,161 The property and equipment balances above include $164,247 and $236,593 of capital expenditure accruals (primarily related to Sphere construction) as of December 31, 2023 and June 30, 2023, respectively, which are reflected in Accounts payable, accrued and other current liabilities in the accompanying condensed consolidated balance sheets. During the first quarter of Fiscal Year 2024, the Company placed $3,130,028 of construction in progress assets into service with the opening of Sphere, and began depreciating them over their corresponding estimated useful lives. See Note 2. Summary of Significant Accounting Policies, to the consolidated financial statements included in the 2023 Form 10-K, for details on the Company’s estimated useful lives for each major category of property and equipment. The Company recorded depreciation expense on property and equipment of $79,253 and $92,733 for the three and six months ended December 31, 2023, respectively, and $6,607 and $11,961 for the three and six months ended December 31, 2022, respectively, which is recognized in Depreciation and amortization in the condensed consolidated statements of operations. On November 21, 2023, the Company announced that it was formally notified by the Mayor of London that its planning application for a Sphere venue in Stratford, London was not approved. In light of this decision, the Company no longer plans to allocate resources towards the development of a Sphere in the United Kingdom. In connection with this decision, the Company recorded an impairment charge of $116,541 on construction in progress and land assets reported within the Sphere segment. This charge is recognized in Impairment and other (losses) gains, net within the condensed consolidated statements of operations for the three and six month ended December 31, 2023. The fair value of the land was determined using an estimate of the assumed exit value from a market participant perspective.

Original Immersive Production C

Original Immersive Production Content	6 Months Ended
Original Immersive Production Content	Dec. 31, 2023
Other Industries [Abstract]
Original Immersive Production Content	Original Immersive Production Content The Company’s production content for its original immersive productions are included within Other non-current assets in the accompanying condensed consolidated balance sheets. As of December 31, 2023 and June 30, 2023, total deferred immersive production content costs consisted of the following: As of December 31, June 30, Production content Released, less amortization $ 76,194 $ — In-process — 61,421 Total production content $ 76,194 $ 61,421 The following table summarizes the Company’s amortization of production content costs, which is reported in Direct operating expenses in the accompanying condensed consolidated statements of operations for the three and six months ended December 31, 2023 and 2022 as follows: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Production content costs (a) $ 5,545 $ — $ 5,545 $ — _________________ (a) For purposes of amortization and impairment, each deferred immersive production content cost is classified based on its predominant monetization strategy. The Company’s current original immersive productions are monetized individually. Refer to Note 2. Accounting Policies, for further explanation of the monetization strategy.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
Goodwill and Intangible Assets	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The carrying amounts of goodwill as of December 31, 2023 and June 30, 2023 were as follows: As of December 31, June 30, Sphere $ 32,299 $ 32,299 MSG Networks 424,508 424,508 Total Goodwill $ 456,807 $ 456,807 During the first quarter of Fiscal Year 2024, the Company performed its annual impairment test of goodwill and determined that there was no impairment of goodwill identified as of the impairment test date. The Company’s intangible assets subject to amortization, which relate to affiliate relationships, as of December 31, 2023 and June 30, 2023 were as follows: As of December 31, June 30, Gross carrying amount $ 83,044 $ 83,044 Accumulated amortization (66,691) (65,134) Intangible assets, net $ 16,353 $ 17,910 The Company recognized amortization expense on intangible assets of $778 and $1,557 for the three and six months ended December 31, 2023, respectively, and $779 and $1,558 for the three and six months ended December 31, 2022, respectively, which is recognized in Depreciation and amortization in the accompanying condensed consolidated statements of operations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments See Note 11. Commitments and Contingencies, to the consolidated financial statements included in the 2023 Form 10-K, for details on the Company’s commitments. The Company’s commitments as of June 30, 2023 included a total of $3,134,884 of contract obligations (primarily related to media rights agreements from the MSG Networks segment). During the three and six months ended December 31, 2023, the Company did not have any material changes in its non-cancelable contractual obligations (other than activities in the ordinary course business). See Note 11. Credit Facilities and Convertible Notes, for details of the principal repayments required under the Company’s various credit facilities. Legal Matters Fifteen complaints were filed in connection with the merger between a subsidiary of the Company and MSG Networks Inc. (the “Networks Merger”) by purported stockholders of the Company and MSG Networks Inc. Nine of these complaints involved allegations of materially incomplete and misleading information set forth in the joint proxy statement/prospectus filed by the Company and MSG Networks Inc. in connection with the Networks Merger. As a result of supplemental disclosures made by the Company and MSG Networks Inc. on July 1, 2021, all of the disclosure actions were voluntarily dismissed with prejudice prior to or shortly following the consummation of the Networks Merger. Six complaints involved allegations of fiduciary breaches in connection with the negotiation and approval of the Networks Merger and were consolidated into two remaining litigations. On September 10, 2021, the Court of Chancery of the State of Delaware (the “Court”) entered an order consolidating two derivative complaints filed by purported Company stockholders. The consolidated action is captioned: In re Madison Square Garden Entertainment Corp. Stockholders Litigation , C.A. No. 2021-0468-KSJM (the “MSG Entertainment Litigation”). The consolidated plaintiffs filed their Verified Consolidated Derivative Complaint on October 11, 2021. The complaint, which named the Company as only a nominal defendant, retained all of the derivative claims and alleged that the members of the board of directors and controlling stockholders violated their fiduciary duties in the course of negotiating and approving the Networks Merger. Plaintiffs sought, among other relief, an award of damages to the Company including interest, and plaintiffs’ attorneys’ fees. Pursuant to the indemnity rights in its bylaws and Delaware law, the Company advanced the costs incurred by defendants in this action, and defendants asserted indemnification rights in respect of any adverse judgment or settlement of the action. On March 14, 2023, the parties to the MSG Entertainment Litigation reached an agreement in principle to settle the MSG Entertainment Litigation, without admitting liability, on the terms and conditions set forth in a binding term sheet, which was incorporated into a long-form settlement agreement (the “MSGE Settlement Agreement”) that was filed with the Court on April 20, 2023. The MSGE Settlement Agreement provided for, among other things, the final dismissal of the MSG Entertainment Litigation in exchange for a settlement payment to the Company of $85,000, subject to customary reduction for attorneys’ fees and expenses, in an amount to be determined by the Court. The settlement’s amount was fully funded by the other defendants’ insurers. The MSGE Settlement Agreement was approved by the Court on August 14, 2023, which constituted the final judgment in the action. A realized gain of $62,647 was recognized in Other income (expense), net on the condensed consolidated statements of operations in connection with the settlement payment to the Company. On September 27, 2021, the Court entered an order consolidating four complaints filed by purported former stockholders of MSG Networks Inc. The consolidated action is captioned: In re MSG Networks Inc. Stockholder Class Action Litigation, C.A. No. 2021-0575-KSJM (the “MSG Networks Litigation”). The consolidated plaintiffs filed their Verified Consolidated Stockholder Class Action Complaint on October 29, 2021. The complaint asserted claims on behalf of a putative class of former MSG Networks Inc. stockholders against each member of the board of directors of MSG Networks Inc. and the controlling stockholders prior to the Networks Merger. Plaintiffs alleged that the MSG Networks Inc. board of directors and controlling stockholders breached their fiduciary duties in negotiating and approving the Networks Merger. The Company was not named as a defendant but was subpoenaed to produce documents and testimony related to the Networks Merger. Plaintiffs sought, among other relief, monetary damages for the putative class and plaintiffs’ attorneys’ fees. Pursuant to the indemnity rights in its bylaws and Delaware law, the Company advanced the costs incurred by defendants in this action, and defendants asserted indemnification rights in respect of any adverse judgment or settlement of the action. On April 6, 2023, the parties to the MSG Networks Litigation reached an agreement in principle to settle the MSG Networks Litigation , without admitting liability, on the terms and conditions set forth in a binding term sheet, which was incorporated into a long-form settlement agreement (the “MSGN Settlement Agreement”) that was filed with the Court on May 18, 2023. The MSGN Settlement Agreement provided for, among other things, the final dismissal of the MSG Networks Litigation in exchange for a settlement payment to the plaintiffs and the class of $48,500, of which $28,000 has been paid as of December 31, 2023 , with approximately $20,500 accrued for in Accounts payable, accrued and other current liabilities . The MSGN Settlement Agreement was approved by the Court on August 14, 2023, which constituted the final judgment in the action. MSG Networks has a dispute with its insurers over whether and to what extent there is insurance coverage for the settlement. Unless MSG Networks Inc. and the insurers settle that insurance dispute, it is expected to be resolved in a pending Delaware insurance coverage action. In the interim, and subject to final resolution of the parties’ insurance coverage dispute, certain of MSG Networks’ insurers agreed to advance $20,500 to fund the settlement and related class notice costs. The Company is a defendant in various other lawsuits. Although the outcome of these other lawsuits cannot be predicted with certainty (including the extent of available insurance, if any), management does not believe that resolution of these other lawsuits will have a material adverse effect on the Company.

Credit Facilities and Convertib

Credit Facilities and Convertible Notes	6 Months Ended
Credit Facilities and Convertible Notes	Dec. 31, 2023
Line of Credit Facility [Abstract]
Credit Facilities and Convertible Notes	Credit Facilities and Convertible Notes The following table summarizes the presentation of the outstanding balances under the Company’s credit agreements as of December 31, 2023 and June 30, 2023: As of December 31, 2023 June 30, 2023 Principal Unamortized Deferred Financing Costs Net Principal Unamortized Deferred Financing Costs Net Current portion MSG Networks Term Loan $ 891,000 $ (890) $ 890,110 $ 82,500 $ — $ 82,500 Current portion of long-term debt, net $ 891,000 $ (890) $ 890,110 $ 82,500 $ — $ 82,500 As of December 31, 2023 June 30, 2023 Principal Debt Discount Unamortized Deferred Financing Costs Net Principal Debt Discount Unamortized Deferred Financing Costs Net Non-current portion MSG Networks Term Loan $ — $ — $ — $ — $ 849,750 $ — $ (1,483) $ 848,267 LV Sphere Term Loan Facility 275,000 — (4,331) 270,669 275,000 — (4,880) 270,120 3.50% Convertible Senior Notes 258,750 (7,116) (890) 250,744 — — — — Long-term debt, net $ 533,750 $ (7,116) $ (5,221) $ 521,413 $ 1,124,750 $ — $ (6,363) $ 1,118,387 MSG Networks Credit Facilities General. MSGN Holdings, L.P. (“MSGN L.P.”), MSGN Eden, LLC, an indirect subsidiary of the Company and the general partner of MSGN L.P., Regional MSGN Holdings LLC, an indirect subsidiary of the Company and the limited partner of MSGN L.P. (collectively with MSGN Eden, LLC, the “MSGN Holdings Entities”), and certain subsidiaries of MSGN L.P. have senior secured credit facilities pursuant to a credit agreement (as amended and restated on October 11, 2019, the “MSGN Credit Agreement”) consisting of: (i) an initia l $1,100,000 term l oan facility (the “MSGN Term Loan Facility”) and ( ii) a $250,000 revolving credit facility (the “MSGN Revolving Credit Facility” and, together with the MSGN Term Loan Facility, the “MSG Networks Credit Facilities”), each with a term of five years. Up to $35,000 of the MSGN Revolving Credit Facility is available for the issuance of letters of credit. As of December 31, 2023, there were no borrowings or letters of credit issued and outstanding under the MSGN Revolving Credit Facility. Interest Rates. Borrowings under the MSGN Credit Agreement bear interest at a floating rate, which at the option of MSGN L.P. may be either (i) a base rate plus an additional rate ranging from 0.25% to 1.25% per annum (determined based on a total net leverage ratio), or (ii) adjusted Term SOFR (i.e., Term SOFR plus 0.10%) plus an additional rate ranging from 1.25% to 2.25% per annum (determined based on a total leverage ratio). Upon a payment default in respect of principal, interest or other amounts due and payable under the MSGN Credit Agreement or related loan documents, default interest will accrue on all overdue amounts at an additional rate of 2.00% per annum. The MSGN Credit Agreement requires that MSGN L.P. pay a commitment fee ranging from 0.225% to 0.30% (determined based on a total leverage ratio) in respect of the average daily unused commitments under the MSGN Revolving Credit Facility. MSGN L.P. will also be required to pay customary letter of credit fees, as well as fronting fees, to banks that issue letters of credit. The interest rate on the MSGN Term Loan Facility as of December 31, 2023 was 7.46% . Principal Repayments. Subject to customary notice and minimum amount conditions, MSGN L.P. may voluntarily repay outstanding loans under the MSGN Credit Agreement at any time, in whole or in part, without premium or penalty (except for customary breakage costs with respect to Eurodollar loans). The MSGN Term Loan Facility amortizes quarterly in accordance with its terms beginning March 31, 2020 through September 30, 2024 with a final maturity date of October 11, 2024. MSGN L.P. is required to make mandatory prepayments in certain circumstances, including without limitation from the net cash proceeds of certain sales of assets (including MSGN Collateral) or casualty insurance and/or condemnation recoveries (subject to certain reinvestment, repair or replacement rights) and the incurrence of certain indebtedness, subject to certain exceptions. Covenants. The MSGN Credit Agreement generally requires the MSGN Holdings Entities and MSGN L.P. and its restricted subsidiaries on a c onsolidated basis to comply with a maximum total leverage ratio of 5.50:1.00, subject, at the option of MSGN L.P. to an upward adjustment to 6.00:1.00 during the continuance of certain events. As of December 31, 2023, the total leverage ratio was 5.29:1:00. In addition, the MSGN Credit Agreement requires a minimum interest coverage ratio of 2.00:1.00 for the MSGN Holdings Entities and MSGN L.P. and its restricted subsidiaries on a consolidated basis. As of December 31, 2023, the interest coverage ratio was 2.47:1:00. All borrowings under the MSGN Credit Agreement are subject to the satisfaction of customary conditions, including absence of a default and accuracy of representations and warranties. As of December 31, 2023, the MSGN Holdings Entities and MSGN L.P. and its restricted subsidiaries on a consolidated basis were in compliance with the covenants. In addition to the financial covenants discussed above, the MSGN Credit Agreement and the related security agreement contain certain customary representations and warranties, affirmative covenants, and events of default. The MSGN Credit Agreement contains certain restrictions on the ability of MSGN L.P. and its restricted subsidiaries to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the MSGN Credit Agreement, including the following: (i) incurring additional indebtedness and contingent liabilities; (ii) creating liens on certain assets; (iii) making investments, loans or advances in or to other persons; (iv) paying dividends and distributions or repurchasing capital stock; (v) changing their lines of business; (vi) engaging in certain transactions with affiliates; (vii) amending specified material agreements; (viii) merging or consolidating; (ix) making certain dispositions; and (x) entering into agreements that restrict the granting of liens. The MSGN Holdings Entities are also subject to customary passive holding company covenants. Guarantors and Collateral. All obligations under the MSGN Credit Agreement are guaranteed by the MSGN Holdings Entities and MSGN L.P.’s existing and future direct and indirect domestic subsidiaries that are not designated as excluded subsidiaries or unrestricted subsidiaries (the “MSGN Subsidiary Guarantors,” and together with the MSGN Holdings Entities, the “MSGN Guarantors”). All obligations under the MSGN Credit Agreement, including the guarantees of those obligations, are secured by certain assets of MSGN L.P. and each MSGN Guarantor (collectively, “MSGN Collateral”), including, but not limited to, a pledge of the equity interests in MSGN L.P. held directly by the MSGN Holdings Entities and the equity interests in each MSGN Subsidiary Guarantor held directly or indirectly by MSGN L.P. LV Sphere Term Loan Facility General. On December 22, 2022, MSG Las Vegas, LLC (“MSG LV”), an indirect, wholly-owned subsidiary of the Company, entered into a credit agreement with JP Morgan Chase Bank, N.A., as administrative agent and the lenders party thereto, providing for a five-year, $275,000 senior secured term loan facility (the “LV Sphere Term Loan Facility”). Interest Rates . Borrowings under the LV Sphere Term Loan Facility bear interest at a floating rate, which at the option of MSG LV may be either (i) a base rate plus a margin of 3.375% per annum or (ii) adjusted Term SOFR (i.e., Term SOFR plus 0.10%) plus a margin of 4.375% per annum. The interest rate on the LV Sphere Term Loan Facility as of December 31, 2023 was 9.83%. Principal Repayments . The LV Sphere Term Loan Facility will mature on December 22, 2027. The principal obligations under the LV Sphere Term Loan Facility are due at the maturity of the facility, with no amortization payments prior to maturity. Under certain circumstances, MSG LV is required to make mandatory prepayments on the loan, including prepayments in an amount equal to the net cash proceeds of casualty insurance and/or condemnation recoveries (subject to certain reinvestment, repair or replacement rights), subject to certain exceptions. Covenants . The LV Sphere Term Loan Facility and related guaranty by Sphere Entertainment Group include financial covenants requiring MSG LV to maintain a specified minimum debt service coverage ratio and requiring Sphere Entertainment Group to maintain a specified minimum liquidity level. The debt service coverage ratio covenant began testing in the fiscal quarter ended December 31, 2023 on a historical basis and on a prospective basis. Both the historical and prospective debt service coverage ratios are required to be at least 1.35:1.00. In addition, among other conditions, MSG LV is not permitted to make distributions to Sphere Entertainment Group unless the historical and prospective debt service coverage ratios are at least 1.50:1.00. The minimum liquidity level for Sphere Entertainment Group is set at $50,000, with $25,000 required to be held in cash or cash equivalents and is tested as of the last day of each fiscal quarter based on Sphere Entertainment Group’s unencumbered liquidity, consisting of cash and cash equivalents and available lines of credit, as of such date. In addition to the covenants described above, the LV Sphere Term Loan Facility and the related guaranty and security and pledge agreements contain certain customary representations and warranties, affirmative and negative covenants and events of default. The LV Sphere Term Loan Facility contains certain restrictions on the ability of MSG LV and Sphere Entertainment Group to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the LV Sphere Term Loan Facility and the related guaranty and security and pledge agreements, including the following: (i) incur additional indebtedness; (ii) make investments, loans or advances in or to other persons; (iii) pay dividends and distributions (which will restrict the ability of MSG LV to make cash distributions to the Company); (iv) change its lines of business; (v) engage in certain transactions with affiliates; (vi) amend organizational documents; (vii) merge or consolidate; and (viii) make certain dispositions. Guarantors and Collateral . All obligations under the LV Sphere Term Loan Facility are guaranteed by Sphere Entertainment Group. All obligations under the LV Sphere Term Loan Facility, including the guarantees of those obligations, are secured by all of the assets of MSG LV and certain assets of Sphere Entertainment Group including, but not limited to, MSG LV’s leasehold interest in the land on which Sphere in Las Vegas is located and a pledge of all of the equity interests held directly by Sphere Entertainment Group in MSG LV. Delayed Draw Term Loan Facility On April 20, 2023, the Company entered into a delayed draw term loan facility (the “DDTL Facility”) with MSG Entertainment Holdings, LLC (“MSG Entertainment Holdings”). Pursuant to the DDTL Facility, MSG Entertainment Holdings committed to lend up to $65,000 in delayed draw term loans to the Company on an unsecured basis for a period of 18 months following the consummation of the MSGE Distribution. On July 14, 2023, the Company drew down the full amount of the $65,000 under the DDTL Facility. On August 9, 2023, the Company repaid all amounts outstanding under the DDTL Facility (including accrued interest and commitment fees) by delivering to MSG Entertainment Holdings approximately 1,923 shares of MSG Entertainment Class A common stock . 3.50% Convertible Senior Notes On December 8, 2023, the Company completed a private unregistered offering (the “Offering”) of $258,750 in aggregate principal amount of its 3.50% Convertible Senior Notes due 2028 (the “3.50% Convertible Senior Notes”), which amount includes the full exercise of the initial purchasers’ option to purchase additional 3.50% Convertible Senior Notes. The Company used $14,309 of the net proceeds from the Offering to fund the cost of entering into the capped call transactions described below, with the remaining net proceeds from the Offering designated for general corporate purposes, including capital for Sphere-related growth initiatives. The capped call transactions met all of the applicable criteria for equity classification in accordance with ASC 815-10-15-74(a), “Derivatives and Hedging—Embedded Derivatives—Certain Contracts Involving an Entity’s Own Equity,” and were recorded as a reduction to Equity on the Company’s condensed consolidated statements of stockholder’s equity and condensed consolidated balance sheets. On December 8, 2023, the Company entered into an Indenture, dated as of December 8, 2023 (the “Indenture”), with U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), relating to 3.50% Convertible Senior Notes. The 3.50% Convertible Senior Notes constitute a senior general unsecured obligation of the Company. The 3.50% Convertible Senior Notes bear interest at a rate of 3.50% per year, payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2024. The 3.50% Convertible Senior Notes will mature on December 1, 2028, unless earlier redeemed, repurchased or converted. Subject to the terms of the Indenture, the 3.50% Convertible Senior Notes may be converted at an initial conversion rate of 28.1591 shares of Class A Common Stock per $1,000 principal amount of 3.50% Convertible Senior Notes (equivalent to an initial conversion price of approximately $35.51 per share of Class A Common Stock). Upon conversion of the 3.50% Convertible Senior Notes, the Company will pay or deliver, as the case may be, cash, shares of Class A Common Stock or a combination of cash and shares of Class A Common Stock, at the Company’s election, in accordance with the Indenture. Holders of the 3.50% Convertible Senior Notes may convert their 3.50% Convertible Senior Notes at their option at any time on or after September 1, 2028 until the close of business on the second scheduled trading day immediately preceding the maturity date. Holders of the 3.50% Convertible Senior Notes will also have the right to convert the 3.50% Convertible Senior Notes prior to September 1, 2028, but only upon the occurrence of specified events described in the Indenture. The conversion rate is subject to anti-dilution adjustments if certain events occur. Prior to December 6, 2026, the 3.50% Convertible Senior Notes will not be redeemable. On or after December 6, 2026, the Company may redeem for cash all or part of the 3.50% Convertible Senior Notes (subject to certain exceptions), at its option, if the last reported sale price of the Class A Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any period of 30 consecutive trading days (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 3.50% Convertible Senior Notes to be redeemed, plus accrued and unpaid interest to, but not including, the redemption date. No sinking fund is provided for the 3.50% Convertible Senior Notes. If certain corporate events occur or the Company delivers a notice of redemption prior to the maturity date of the 3.50% Convertible Senior Notes, and a holder elects to convert its 3.50% Convertible Senior Notes in connection with such corporate event or notice of redemption, as the case may be, the Company will, under certain circumstances, increase the conversion rate for the 3.50% Convertible Senior Notes so surrendered for conversion by a number of additional shares of Class A Common Stock in accordance with the Indenture. No adjustment to the conversion rate will be made if the price paid or deemed to be paid per share of Class A Common Stock in such corporate event or redemption, as the case may be, is either less than $28.41 per share or exceeds $280.00 per share. If a specified “Fundamental Change” (as defined in the Indenture) occurs prior to the maturity date of the 3.50% Convertible Senior Notes, under certain circumstances each holder may require the Company to repurchase all or part of its 3.50% Convertible Senior Notes at a repurchase price equal to 100% of the principal amount, plus accrued and unpaid interest to, but not including, the repurchase date. Under the Indenture, the 3.50% Convertible Senior Notes may be accelerated upon the occurrence of certain events of default. In the case of an event of default with respect to the 3.50% Convertible Senior Notes arising from specified events of bankruptcy or insolvency of the Company, 100% of the principal of and accrued and unpaid interest on the 3.50% Convertible Senior Notes will automatically become due and payable. If any other event of default with respect to the 3.50% Convertible Senior Notes under the Indenture occurs or is continuing, the Trustee or holders of at least 25% in aggregate principal amount of the then outstanding 3.50% Convertible Senior Notes may declare the principal amount of the 3.50% Convertible Senior Notes to be immediately due and payable. On December 5, 2023, in connection with the pricing of the 3.50% Convertible Senior Notes, and on December 6, 2023, in connection with the exercise in full by the initial purchasers of their option to purchase additional 3.50% Convertible Senior Notes, the Company entered into capped call transactions with certain of the initial purchasers of the 3.50% Convertible Senior Notes or their respective affiliates and other financial institutions, pursuant to capped call confirmations. The capped call transactions are expected generally to reduce the potential dilution to the Class A Common Stock upon any conversion of the 3.50% Convertible Senior Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted 3.50% Convertible Senior Notes, as the case may be, with such reduction and/or offset subject to a cap based on a cap price initially equal to approximately $42.62 per share (which represents a premium of approximately 50% over the last reported sale price of the Class A Common Stock of $28.41 per share on the New York Stock Exchange (the “NYSE”) on December 5, 2023), and is subject to certain adjustments under the terms of the capped call transactions. Interest payments and loan principal repayments made by the Company under the credit agreements were as follows: Interest Payments Loan Principal Repayments Six Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 MSG Networks Credit Facilities $ 34,825 $ 24,468 $ 41,250 $ 24,750 LV Sphere Term Loan Facility 13,412 — — — Delayed Draw Term Loan Facility 460 — 65,000 — Total Payments $ 48,697 $ 24,468 $ 106,250 $ 24,750 The carrying value and fair value of the Company’s debt reported in the accompanying condensed consolidated balance sheets are as follows: As of December 31, 2023 June 30, 2023 Carrying Value (a) Fair Carrying Value (a) Fair Liabilities: MSG Networks Credit Facilities $ 891,000 $ 886,545 $ 932,250 $ 927,589 LV Sphere Term Loan Facility 275,000 273,625 275,000 272,250 3.50% Convertible Senior Notes 251,634 298,779 — — Total Long-term debt $ 1,417,634 $ 1,458,949 $ 1,207,250 $ 1,199,839 _________________ (a) The total carrying value of the Company’s debt as of December 31, 2023 and June 30, 2023 is equal to the current and non-current principal payments for the Company’s credit agreements, net of discount, excluding unamortized deferred financing costs of $6,111 and $6,363, respectively. The Company’s long-term debt is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar instruments for which the inputs are readily observable.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefit Plan	6 Months Ended
Pension Plans and Other Postretirement Benefit Plan	Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Pension Plans and Other Postretirement Benefit Plan	Pension Plans and Other Postretirement Benefit Plan The Company sponsors (i) both funded and unfunded and qualified and non-qualified pension plans, including the Networks 1212 Plan, Networks Excess Cash Balance Plan, and the Networks Excess Retirement Plan (together, the “Networks Plans”), (ii) an excess savings plan and (iii) a postretirement benefit plan (the “Postretirement Plan”). In connection with the MSGE Distribution, the Company established an unfunded non-contributory, non-qualified frozen excess cash balance plan (the “Sphere Excess Plan”) covering certain employees who participated in the pre-MSGE Distribution cash balance plan, which was transferred to MSG Entertainment in connection with the MSGE Distribution. The Networks Plans and Sphere Excess Plans are collectively referred to as the “Pension Plans.” Prior to the MSGE Distribution, the Company sponsored two contributory welfare plans which provided certain postretirement healthcare benefits to certain employees hired prior to January 1, 2001. The sponsorship of the Postretirement Plan covering Networks employees was retained by the Company while the postretirement plan covering MSGE employees was transferred to MSG Entertainment in connection with MSGE Distribution. In addition, the liabilities associated with the postretirement plan for MSGE employees were transferred from the Company to MSG Entertainment in connection with the MSGE Distribution. See Note 13. Pension Plans and Other Postretirement Benefit Plans, to the consolidated financial statements included in the 2023 Form 10-K, for more information regarding these plans. Defined Benefit Pension Plans and Postretirement Benefit Plan The following table presents components of net periodic benefit cost for the Pension Plans and Postretirement Plan included in the accompanying condensed consolidated statements of operations for the three and six months ended December 31, 2023 and 2022. Service cost is recognized in direct operating expenses and selling, general and administrative expenses. All other components of net periodic benefit cost are reported in Other expense, net. Pension Plans Postretirement Plan Three Months Ended Three Months Ended December 31, December 31, 2023 2022 2023 2022 Service cost $ 61 $ 123 $ 5 $ 15 Interest cost 429 1,189 17 19 Expected return on plan assets 79 (1,719) — — Recognized actuarial loss (gain) 120 501 (17) 9 Net periodic benefit cost $ 689 $ 94 $ 5 $ 43 Pension Plans Postretirement Plan Six Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Service cost $ 122 $ 246 $ 10 $ 30 Interest cost 868 2,378 34 38 Expected return on plan assets (134) (3,438) — — Recognized actuarial loss (gain) (104) 1,002 (34) 18 Net periodic benefit cost $ 752 $ 188 $ 10 $ 86 Contributions for Qualified Defined Benefit Plans The Company sponsors one non-contributory, qualified defined benefit pension plan covering certain of its union employees, the “Networks 1212 Plan.” The Company contributed $500 to the Networks 1212 Plan during the six months ended December 31, 2023. The Company contributed $500 to the Networks 1212 Plan during the six months ended December 31, 2022. The Company did not contribute any amounts to the Networks 1212 Plan during the three months ended December 31, 2023 and 2022. Defined Contribution Plans The Company sponsors the MSGN Holdings, L.P. Excess Savings Plan, the Sphere Entertainment Excess Savings Plan, and the Madison Square Garden 401(k) Savings Plan (collectively, “Savings Plans”). For the three and six months ended December 31, 2023 and 2022, expenses related to the Savings Plans included in the accompanying condensed consolidated statements of operations are as follows: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Continuing Operations $ 2,003 $ 1,734 $ 3,213 $ 3,121 Discontinued Operations — 1,008 — 2,186 Total Savings Plan Expenses $ 2,003 $ 2,742 $ 3,213 $ 5,307 Executive Deferred Compensation See Note 13. Pension Plans and Other Postretirement Benefit Plans, included in the Company’s Audited Consolidated Annual Financial Statements (as defined below), for more information regarding the Company’s Executive Deferred Compensation Plan (the “Deferred Compensation Plan”). The Company recorded compensation expense of $245 and $138 for the three and six months ended December 31, 2023, respectively, and $160 and $6 for the three and six months ended December 31, 2022, respectively, within Selling, general, and administrative expenses in the condensed, consolidated statements of operations to reflect the remeasurement of the Deferred Compensation Plan liability. In addition, the Company recorded gains of $245 and $138 for the three and six months ended December 31, 2023, respectively, and $160 and $6 for the three and six months ended December 31, 2022, respectively, within Other (expense) income, net in the condensed, consolidated statements of operations to reflect remeasurement of the fair value of assets under the Deferred Compensation Plan. The following table summarizes amounts recognized related to the Deferred Compensation Plan in the condensed consolidated balance sheets: As of December 31, June 30, Non-current assets (included in Other non-current assets) $ 2,856 $ 1,087 Non-current liabilities (included in Other non-current liabilities) $ (2,855) $ (1,087)

Share-based Compensation

Share-based Compensation	6 Months Ended
Share-based Compensation	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation The Company has three share-based compensation plans: the 2020 Employee Stock Plan, the 2020 Stock Plan for Non-Employee Directors and the MSG Networks Inc. 2010 Employee Stock Plan, in each case as amended from time to time. See Note 12. Share-based Compensation, to the consolidated financial statements included in the 2023 Form 10-K, for more detail on these plans. Share-based compensation expense for the Company’s restricted stock units (“RSUs”), performance stock units (“PSUs”), stock options and/or cash-settled stock appreciation rights (“SARs”) are recognized in the condensed consolidated statements of operations as a component of direct operating expenses or selling, general and administrative expenses. The following table summarizes the Company’s share-based compensation expense: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Share-based compensation (a) $ 12,072 $ 16,355 $ 16,955 $ 27,845 Fair value of awards vested (b) $ 3,267 $ 2,995 $ 33,421 $ 35,127 _________________ (a) Share-based compensation excludes costs that have been capitalized of $1,574 and $1,802 for the six months ended December 31, 2023 and 2022, respectively. (b) To fulfill required statutory tax withholding obligations for the applicable income and other employment taxes, RSUs and PSUs with an aggregate value of $459 and $14,435, and $225 and $14,741 were retained by the Company during the three and six months ended December 31, 2023, and 2022, respectively. As of December 31, 2023, there was $93,115 of unrecognized compensation cost related to unvested RSUs, PSUs, stock options and SARs held by the Company’s employees. The cost is expected to be recognized over a weighted-average period of approximately 2.55 years. For the three and six months ended December 31, 2023 all restricted stock units and stock options were excluded from the anti-dilutive calculation because the Company reported a net loss for the period and, therefore, their impact on reported loss per share would have been antidilutive. Award Activity RSUs During the six months ended December 31, 2023 and December 31, 2022, approximately 514 and 650 RSUs were granted, respectively, and approximately 630 and 546 RSUs vested, respectively. PSUs During the six months ended December 31, 2023 and December 31, 2022, approximately 404 and 566 PSUs were granted, respectively, and approximately 273 and 91 PSUs vested, respectively. Stock options During the six months ended December 31, 2023, approximately 3,344 stock options were granted. No stock options were granted during the six months ended December 31, 2022 and no options vested during the six months ended December 31, 2023 and December 31, 2022. SARs During the six months ended December 31, 2023, approximately 188 SARs were granted, and no SARs vested. During the six months ended December 31, 2022 no SARs were granted or vested.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock The Company is authorized to issue 15,000 shares of preferred stock, par value $0.01. As of December 31, 2023 and June 30, 2023, no shares of preferred stock were outstanding. Stock Repurchase Program On March 31, 2020, the Company’s Board of Directors authorized the repurchase of up to $350,000 of the Company’s Class A Common Stock. The program was re-authorized by the Company’s Board of Directors on March 29, 2023. Under the authorization, shares of Class A Common Stock may be purchased from time to time in accordance with applicable insider trading and other securities laws and regulations. The timing and amount of purchases will depend on market conditions and other factors. The Company has not engaged in any share repurchase activities under its share repurchase program to date. Accumulated Other Comprehensive Loss The following tables detail the components of accumulated other comprehensive loss: Three Months Ended December 31, 2023 Pension Plans and Cumulative Accumulated Balance as of September 30, 2023 $ (5,316) $ (5,667) $ (10,983) Other comprehensive income: Other comprehensive income before reclassifications — 6,199 6,199 Amounts reclassified from accumulated other comprehensive loss (a) 103 — 103 Income tax expense (27) (1,606) (1,633) Other comprehensive income, total 76 4,593 4,669 Balance as of December 31, 2023 $ (5,240) $ (1,074) $ (6,314) Three Months Ended December 31, 2022 Pension Plans and Cumulative Accumulated Balance as of September 30, 2022 $ (39,787) $ (21,194) $ (60,981) Other comprehensive income: Other comprehensive income before reclassifications — 14,803 14,803 Amounts reclassified from accumulated other comprehensive loss (a) 510 — 510 Income tax expense (176) (2,719) (2,895) Other comprehensive income, total 334 12,084 12,418 Balance as of December 31, 2022 $ (39,453) $ (9,110) $ (48,563) Six Months Ended December 31, 2023 Pension Plans and Postretirement Plan Cumulative Accumulated Balance as of June 30, 2023 $ (5,138) $ 200 $ (4,938) Other comprehensive loss: Other comprehensive loss before reclassifications — (1,720) (1,720) Amounts reclassified from accumulated other comprehensive loss (a) (138) — (138) Income tax benefit 36 446 482 Other comprehensive loss, total (102) (1,274) (1,376) Balance as of December 31, 2023 $ (5,240) $ (1,074) $ (6,314) Six Months Ended December 31, 2022 Pension Plans and Cumulative Accumulated Balance as of June 30, 2022 $ (40,287) $ (8,068) $ (48,355) Other comprehensive income (loss): Other comprehensive loss before reclassifications — (1,277) (1,277) Amounts reclassified from accumulated other comprehensive loss (a) 1,020 — 1,020 Income tax (expense) benefit (186) 235 49 Other comprehensive income (loss), total 834 (1,042) (208) Balance as of December 31, 2022 $ (39,453) $ (9,110) $ (48,563) _________________ (a) Amounts reclassified from accumulated other comprehensive loss represent the amortization of net actuarial loss and net unrecognized prior service credit included in net periodic benefit cost, which is reflected under Other income (expense), net in the accompanying condensed consolidated statements of operations (see Note 12. Pension Plans and Other Postretirement Benefit Plans).

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of December 31, 2023, certain m embers of the Dolan family, including certain trusts for the benefit of members of the Dolan family (collectively, the “Dolan Family Group”), for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, collectively beneficially owned 100% of the Company’s outstanding Class B Common Stock and approximately 5.6% of the Company’s outstanding Class A Common Stock (inclusive of options exercisable within 60 days of December 31, 2023 ). Such shares of the Company’s Class A Common Stock and Class B Common Stock, collectively, represent approximately 72.1% of the aggregate voting power of the Company’s outstanding common stock. Members of the Dolan family are also the controlling stockholders of MSG Entertainment, MSG Sports and AMC Networks Inc. See Note 17. Related Party Transactions, to the consolidated financial statements included in the 2023 Form 10-K, for a description of the Company’s related party arrangements. There have been no material changes in such related party arrangements except as described below. The Company has entered into arrangements with (i) MSG Sports, pursuant to which MSG Sports provides certain sponsorship and other business operations services to the Company in exchange for service fees, (ii) MSG Entertainment, pursuant to which MSG Entertainment provides certain sponsorship-related account management services to the Company in exchange for service fees, (iii) MSG Sports and MSG Entertainment, pursuant to which the three companies have agreed to allocate expenses in connection with the use by each company of aircraft owned or leased by MSG Entertainment and MSG Sports, and (iv) MSG Sports and MSG Entertainment pursuant to which the Company has certain sponsorship rights. In addition, in connection with the Company’s disposition of the MSGE Retained Interest, the Company no longer has “demand” or “piggyback” registration rights with respect to the MSGE Retained Interest. See Note 6. Investments in Nonconsolidated Affiliates, for additional information on the MSGE Retained Interest. The Company has also entered into certain commercial agreements with its equity method investment nonconsolidated affiliates in connection with Sphere. The Company recorded $2,374 and $8,042 for the three and six months ended December 31, 2023, respectively, and $22,416 and $73,086 for the three and six months ended December 31, 2022, respectively , of capital expenditures in connection with services provided to the Company under these agreements. As of December 31, 2023 and June 30, 2023, accrued liabilities associated with related parties were $17,575 and $13,412, respectively, and are reported under Accounts payable, accrued and other current liabilities in the accompanying condensed consolidated balance sheets. From time to time, the Company enters into arrangements with 605, LLC (“605”). Kristin Dolan, a director of the Company and the spouse of James L. Dolan, the Executive Chairman and Chief Executive Officer of the Company, founded and was the Chief Executive Officer of 605, an audience measurement and data analytics company in the media and entertainment industries, until February 2023. The Company’s Audit Committee approved the entry into one or more agreements with 605 to provide certain data analytics services to the Company for an aggregate amount of up to $1,000. On September 13, 2023, 605 was sold to iSpot.tv, and James L. Dolan and Kristin A. Dolan now hold a minority interest in iSpot.tv. As a result, from and after September 13, 2023, 605 is no longer considered to be a related party. Revenues and Operating Expenses The following table summarizes the composition and amounts of the transactions with the Company’s affiliates. These amounts are reflected in revenues and operating expenses in the accompanying condensed consolidated statements of operations for the three and six months ended December 31, 2023 and 2022: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Revenues $ 1,657 $ — $ 2,047 $ — Operating expenses (credits): Media rights fees 44,485 43,433 88,670 86,200 Cost reimbursement from MSG Sports - MSG Sports Services Agreement — (9,475) — (18,992) Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement (a) 25,780 — 56,117 — Origination, master control and technical services 1,257 1,232 2,514 2,464 Other operating expenses (credits), net (b) 7,497 (285) 8,041 (296) Total operating expenses, net (c) $ 79,019 $ 34,905 $ 155,342 $ 69,376 _________________ (a) Included in the six months ended, Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement (the “MSGE TSA”) are $2,805 related to Restructuring charges for employees who provided services to the Company under the MSGE TSA. (b) Other operating expenses, net, includes reimbursements to MSG Entertainment for aircraft-related expenses, professional and payroll fees. (c) Of the total operating expenses, net, $47,459 and $93,537 for three and six months ended December 31, 2023, respectively, and $44,859 and $89,107 for the three and six months ended December 31, 2022, respectively, are included in direct operating expenses in the accompanying condensed consolidated statements of operations, and $31,560 and $61,805 for three and six months ended December 31, 2023, respectively, and $(9,954) and $(19,731) for the three and six months ended December 31, 2022, respectively, are included as net credits in selling, general, and administrative expenses. Revenues Revenues from related parties relate primarily to certain advertising agreements between MSG Networks and MSG Sports.

Segment Information

Segment Information	6 Months Ended
Segment Information	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information As of December 31, 2023, the Company was comprised of two reportable segments: Sphere and MSG Networks. The Company takes into account whether two or more operating segments can be aggregated together as one reportable segment as well as the type of discrete financial information that is available and regularly reviewed by its Chief Operating Decision Maker. The Company evaluates segment performance based on several factors, of which the key financial measure is adjusted operating income (loss), a non-GAAP financial measure. We define adjusted operating income (loss) as operating income (loss) excluding: (i) depreciation, amortization and impairments of property and equipment, goodwill and intangible assets, (ii) amortization for capitalized cloud computing arrangement costs, (iii) share-based compensation expense, (iv) restructuring charges or credits, (v) merger and acquisition-related costs, including merger-related litigation expenses, (vi) gains or losses on sales or dispositions of businesses and associated settlements, (vii) the impact of purchase accounting adjustments related to business acquisitions, and (viii) gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan (which was established in November 2021). The Company believes that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of the Company’s business without regard to the settlement of an obligation that is not expected to be made in cash. The Company eliminates merger and acquisition-related costs, when applicable, because the Company does not consider such costs to be indicative of the ongoing operating performance of the Company as they result from an event that is of a non-recurring nature, thereby enhancing comparability. In addition, management believes that the exclusion of gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan provides investors with a clearer picture of the Company’s operating performance given that, in accordance with GAAP, gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan are recognized in Operating income (loss) whereas gains and losses related to the remeasurement of the assets under the Company’s Executive Deferred Compensation Plan, which are equal to and therefore fully offset the gains and losses related to the remeasurement of liabilities, are recognized in Other income (expense), net, which is not reflected in Operating income (loss). The Company believes adjusted operating income (loss) is an appropriate measure for evaluating the operating performance of its business segments and the Company on a consolidated basis. Adjusted operating income (loss) and similar measures with similar titles are common performance measures used by investors and analysts to analyze the Company’s performance. The Company uses revenues and adjusted operating income (loss) measures as the most important indicators of its business performance, and evaluates management’s effectiveness with specific reference to these indicators. Adjusted operating income (loss) should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), cash flows from operating activities, and other measures of performance and/or liquidity presented in accordance with GAAP. Since adjusted operating income (loss) is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. The Company has presented the components that reconcile operating income (loss), the most directly comparable GAAP financial measure, to adjusted operating income (loss). Information as to the operations of the Company’s reportable segments is set forth below. Three Months Ended December 31, 2023 Sphere MSG Networks Total Revenues $ 167,799 $ 146,358 $ 314,157 Direct operating expenses (67,338) (92,428) (159,766) Selling, general and administrative expenses (97,804) (17,716) (115,520) Depreciation and amortization (78,044) (1,987) (80,031) Impairment and other losses, net (117,235) — (117,235) Restructuring charges (1,287) — (1,287) Operating (loss) income $ (193,909) $ 34,227 $ (159,682) Interest income 5,926 Interest expense (25,828) Other expense, net (1,130) Loss from operations before income taxes $ (180,714) Reconciliation of operating (loss) income to adjusted operating income: Operating (loss) income $ (193,909) $ 34,227 $ (159,682) Add back: Share-based compensation 10,985 931 11,916 Depreciation and amortization 78,044 1,987 80,031 Restructuring charges 1,287 — 1,287 Impairment and other losses, net 117,235 — 117,235 Merger and acquisition related costs, net of insurance recoveries 200 180 380 Amortization for capitalized cloud computing arrangement costs — 22 22 Remeasurement of deferred compensation plan liabilities 245 — 245 Adjusted operating income $ 14,087 $ 37,347 $ 51,434 Other information: Capital expenditures $ 44,298 $ 3,103 $ 47,401 Three Months Ended December 31, 2022 Sphere MSG Networks Total Revenues $ 643 $ 158,898 $ 159,541 Direct operating expenses — (90,400) (90,400) Selling, general and administrative expenses (74,759) (29,656) (104,415) Depreciation and amortization (5,749) (1,637) (7,386) Other gains 1,000 — 1,000 Restructuring charges (4,087) (3,988) (8,075) Operating (loss) income $ (82,952) $ 33,217 $ (49,735) Interest income 2,669 Other expense, net (1,355) Loss from operations before income taxes $ (48,421) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (82,952) $ 33,217 $ (49,735) Add back: Share-based compensation 13,056 3,299 16,355 Depreciation and amortization 5,749 1,637 7,386 Restructuring charges 4,087 3,988 8,075 Other gains (1,000) — (1,000) Merger and acquisition related costs (58) 5,544 5,486 Amortization for capitalized cloud computing arrangement costs 83 44 127 Remeasurement of deferred compensation plan liabilities 154 — 154 Adjusted operating (loss) income (60,881) $ 47,729 $ (13,152) Other information: Capital expenditures $ 277,014 $ 2,665 $ 279,679 Six Months Ended December 31, 2023 Sphere MSG Networks Total Revenues $ 175,578 $ 256,586 $ 432,164 Direct operating expenses (75,143) (169,122) (244,265) Selling, general and administrative expenses (181,954) (20,710) (202,664) Depreciation and amortization (90,421) (3,869) (94,290) Impairment and other losses, net (115,738) — (115,738) Restructuring charges (4,678) — (4,678) Operating (loss) income $ (292,356) $ 62,885 $ (229,471) Interest income 10,304 Interest expense (25,828) Other income, net 41,066 Loss from operations before income taxes $ (203,929) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (292,356) $ 62,885 $ (229,471) Add back: Share-based compensation 14,904 1,895 16,799 Depreciation and amortization 90,421 3,869 94,290 Restructuring charges 4,678 — 4,678 Impairment and other losses, net 115,738 — 115,738 Merger and acquisition related costs, net of insurance recoveries (2,502) (6,161) (8,663) Amortization for capitalized cloud computing arrangement costs — 44 44 Remeasurement of deferred compensation plan liabilities 138 — 138 Adjusted operating (loss) income $ (68,979) $ 62,532 $ (6,447) Other information: Capital expenditures $ 227,461 $ 4,511 $ 231,972 Six Months Ended December 31, 2022 Sphere MSG Networks Total Revenues $ 1,293 $ 281,377 $ 282,670 Direct operating expenses — (165,820) (165,820) Selling, general and administrative expenses (151,950) (47,096) (199,046) Depreciation and amortization (10,264) (3,255) (13,519) Other gains 3,000 — 3,000 Restructuring charges (4,087) (3,988) (8,075) Operating (loss) income $ (162,008) $ 61,218 $ (100,790) Interest income 6,002 Other expense, net (1,770) Loss from operations before income taxes $ (96,558) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (162,008) $ 61,218 $ (100,790) Add back: Share-based compensation 22,842 5,003 27,845 Depreciation and amortization 10,264 3,255 13,519 Restructuring charges 4,087 3,988 8,075 Other gains (3,000) — (3,000) Merger and acquisition related costs 2,691 7,445 10,136 Amortization for capitalized cloud computing arrangement costs 160 88 248 Adjusted operating (loss) income $ (124,964) $ 80,997 $ (43,967) Other information: Capital expenditures $ 537,253 $ 3,892 $ 541,145 Concentration of Risk Accounts receivable, net in the accompanying condensed consolidated balance sheets as of December 31, 2023 and June 30, 2023 include amounts due from the following individual customers, which accounted for the noted percentages of the gross balance: As of December 31, June 30, Customer A 13 % 23 % Customer B 13 % 22 % Customer C 10 % 17 % Revenues in the accompanying condensed consolidated statements of operations for the three and six months ended December 31, 2023 and December 31, 2022 include amounts from the following individual customers: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Customer 1 11 % 24 % 16 % 27 % Customer 2 11 % 24 % 16 % 27 % Customer 3 9 % 19 % 13 % 22 %

Additional Financial Informatio

Additional Financial Information	6 Months Ended
Additional Financial Information	Dec. 31, 2023
Additional Financial Information [Abstract]
Additional Financial Information	Additional Financial Information The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of December 31, June 30, Cash and cash equivalents $ 614,549 $ 131,965 Restricted cash 13,278 297,149 Total cash, cash equivalents and restricted cash $ 627,827 $ 429,114 The Company’s c ash, cash equivalents, and restricted cash are classified within Level I of the fair value hierarchy as it is valued using observable inputs that reflect quoted prices for identical assets in active markets. The Company’s restricted cash includes cash deposited in escrow accounts. The Company has deposited cash in interest-bearing escrow accounts related to credit support, debt facilities, and collateral to its workers compensation and general liability insurance obligations. Prepaid expenses and other current assets consisted of the following: As of December 31, June 30, Prepaid expenses $ 21,201 $ 22,616 Note and other receivables 11,050 21,453 Inventory 894 — Current deferred production content costs 9,772 6,524 Other 3,893 5,492 Total prepaid expenses and other current assets $ 46,810 $ 56,085 Accounts payable, accrued and other current liabilities consisted of the following: As of December 31, June 30, Accounts payable $ 28,032 $ 39,654 Accrued payroll and employee related liabilities 61,316 75,579 Cash due to promoters 67,121 73,611 Capital expenditure accruals 164,247 236,593 Accrued legal fees 23,159 53,857 Other accrued expenses 48,028 36,437 Total accounts payable, accrued and other current liabilities $ 391,903 $ 515,731 Other income (expense), net includes the following: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Gain on litigation settlement $ — $ — $ 62,647 $ — Realized loss on equity method investments — — (19,027) — Other (1,130) (1,355) (2,554) (1,770) Total other (expense) income, net $ (1,130) $ (1,355) $ 41,066 $ (1,770) Income Taxes During the six months ended December 31, 2023 and 2022, the Company made income tax payments, net of refunds, of $18,789 and $4,075, respectively.

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company reports on a fiscal year basis ending on June 30 th (“Fiscal Year”). In these unaudited condensed consolidated financial statements, the years ended on June 30, 2024 and 2023 are referred to as “Fiscal Year 2024” and “Fiscal Year 2023,” respectively. The Company has presented both the MSG Entertainment business and Tao Group Hospitality as discontinued operations for all periods presented. See Note 3. Discontinued Operations, for further discussion on accounting for the MSGE Distribution and Tao Group Hospitality Disposition. The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions of Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “SEC”), and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for Fiscal Year 2023 included in the 2023 Form 10-K. In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company’s financial position as of December 31, 2023 and its results of operations for the three and six months ended December 31, 2023 and 2022, and cash flows for the six months ended December 31, 2023 and 2022. The condensed consolidated financial statements and the accompanying notes as of December 31, 2023 were derived from audited annual consolidated financial statements but do not contain all of the footnote disclosures from the audited annual consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results that might be expected for future interim periods or for the full year. Our MSG Networks segment earns a higher share of its annual revenues in the second and third quarters of its fiscal year as a result of MSG Networks’ advertising revenue being largely derived from the sale of inventory in its live NBA and NHL professional sports programming.
Reclassifications	Reclassifications For purposes of comparability, certain prior period amounts have been reclassified to conform to the current year presentation in accordance with GAAP.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of Sphere Entertainment Co. and its subsidiaries. They also historically included accounts of Tao Group Hospitality, MSG Entertainment, and Boston Calling Events, LLC (“BCE”) until their dispositions on May 3, 2023, April 20, 2023, and December 2, 2022, respectively. All significant intercompany transactions and balances have been eliminated in consolidation. Prior to their dispositions, Tao Group Hospitality and BCE were consolidated with the equity owned by other stockholders shown as redeemable or nonredeemable noncontrolling interests of discontinued operations in the accompanying condensed consolidated balance sheets, and the other stockholders’ portion of net earnings (loss) and other comprehensive income (loss) shown as net income (loss) or comprehensive income (loss) attributable to redeemable or nonredeemable noncontrolling interests from discontinued operations in the accompanying consolidated statements of operations and consolidated statements of comprehensive income (loss), respectively. See Note 3. Discontinued Operations, for details regarding the Tao Group Hospitality Disposition, and MSGE Distribution. See Note 2. Summary of Significant Accounting Policies, to the audited annual consolidated financial statements included in the 2023 Form 10-K, regarding the classification of redeemable noncontrolling interests of Tao Group Hospitality.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the provision for credit losses, valuation of investments, goodwill, intangible assets, deferred production content costs, other long-lived assets, deferred tax assets, pension and other postretirement benefit obligations and the related net periodic benefit cost, ultimate revenue (as described below), and other liabilities. In addition, estimates are used in revenue recognition, rights fees, performance and share-based compensation, depreciation and amortization, litigation matters and other matters. Management believes its use of estimates in the condensed consolidated financial statements to be reasonable. Management evaluates its estimates on an ongoing basis using historical experience and other factors, including the general economic environment and actions it may take in the future. The Company adjusts such estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and cannot be determined with precision. In addition, these estimates are based on management’s best judgment at a point in time and, as such, these estimates may ultimately differ from actual results. Changes in estimates resulting from weakness in the economic environment or other factors beyond the Company’s control could be material and would be reflected in the Company’s condensed consolidated financial statements in future periods.
Production Costs for the Company's Original Immersive Productions	Production Costs for the Company’s Original Immersive Productions The Company debuted its first original immersive production, Postcard From Earth TM , on October 6, 2023, which resulted in the amortization of the related production costs. The following reflects the Company’s complete policies with respect to immersive production costs. The Company defers certain costs during the production phase of its original immersive productions for Sphere that are directly related to production activities. Such costs include, but are not limited to, fees paid to writers, directors and producers as well as video and music production costs and production-specific overhead. For purposes of evaluating the recognition of amortization and any potential impairment, deferred immersive production costs are classified based on their predominant monetization strategy. The determination of the predominant monetization strategy is made at the commencement of production and is based on the means by which the Company expects to derive third-party revenues from use of the content. The Company’s primary monetization strategy and classification for its current content is on an individual production basis, which the Company defines as content where the lifetime value is predominantly derived from third-party revenues that are directly attributable to the specific production. The classification of content only changes if there is a significant change to the production’s monetization strategy relative to management’s initial assessment. Deferred immersive production costs are amortized beginning in the month the production debuts, in the same ratio that current period actual revenue bears to estimated remaining unrecognized ultimate revenue as of the beginning of the current fiscal year. Estimates of ultimate revenues are prepared on an individual production basis and reviewed regularly by management and revised where necessary to reflect the most current information. Ultimate revenues reflect management’s estimates of future revenue over a period not to exceed ten years following the premiere of the production. Deferred immersive production costs are subject to recoverability assessments whenever there is an indication of potential impairment.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2023-07, Improvement to Reportable Segment Disclosures . This ASU aims to improve segment disclosures through enhanced disclosures about significant segment expenses. The standard requires disclosure of significant expense categories and amounts for such expenses, including those segment expenses that are regularly provided to the chief operating decision maker, easily computable from information that is regularly provided, or significant expenses that are expressed in a form other than actual amounts. This standard will be effective for the Company in Fiscal Year 2025 and is required to be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of the additional disclosure requirements on the Company’s condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures , a final standard on improvements to income tax disclosures which applies to all entities subject to income taxes. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. This standard will be effective for the Company in Fiscal Year 2026 and is required to be applied prospectively. The Company is currently evaluating the impact of the additional disclosure requirements on the Company’s condensed consolidated financial statements.
Revenue, Remaining Performance Obligation	In developing the estimated revenue, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
Discontinued Operations (Tables)	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The table below sets forth operating results of discontinued operations for the three and six months ended December 31, 2022. Amounts presented below differ from historically reported results for the MSG Entertainment and Tao Group Hospitality business segments due to reclassifications and adjustments made for purposes of discontinued operations. Three Months Ended December 31, 2022 MSG Entertainment Tao Group Hospitality Eliminations Total Revenues $ 348,637 $ 134,645 $ (625) $ 482,657 Direct operating expenses (181,730) (76,903) 871 (257,762) Selling, general and administrative expenses (36,237) (42,116) (462) (78,815) Depreciation and amortization (15,586) (6,087) — (21,673) Impairment and other gains, net 4,412 473 — 4,885 Restructuring charges (5,607) — — (5,607) Operating income 113,889 10,012 (216) 123,685 Interest income 911 23 — 934 Interest expense (58) (836) — (894) Other loss, net (2,171) (327) — (2,498) Income from operations before income taxes 112,571 8,872 (216) 121,227 Income tax expense (18,479) (4,883) — (23,362) Net income 94,092 3,989 (216) 97,865 Less: Net (loss) income attributable to nonredeemable noncontrolling interests (181) 125 — (56) Less: Net income attributable to redeemable noncontrolling interests — 3,029 — 3,029 Net income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders $ 94,273 $ 835 $ (216) $ 94,892 Six Months Ended December 31, 2022 MSG Entertainment Tao Group Hospitality Eliminations Total Revenues $ 494,712 $ 267,221 $ (1,187) $ 760,746 Direct operating expenses (282,393) (154,066) 1,247 (435,212) Selling, general and administrative expenses (64,966) (84,659) — (149,625) Depreciation and amortization (31,572) (13,723) — (45,295) Impairment and other gains, net 4,412 473 — 4,885 Restructuring charges (5,607) — — (5,607) Operating income 114,586 15,246 60 129,892 Interest income 1,519 36 — 1,555 Interest expense (1,083) (1,978) — (3,061) Other (loss) income, net (1,285) 727 — (558) Income from operations before income taxes 113,737 14,031 60 127,828 Income tax expense (21,415) (6,288) — (27,703) Net income 92,322 7,743 60 100,125 Less: Net (loss) income attributable to nonredeemable noncontrolling interests (553) 87 — (466) Less: Net income attributable to redeemable noncontrolling interests — 4,153 — 4,153 Net income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders $ 92,875 $ 3,503 $ 60 $ 96,438 The table below sets forth, for the period presented, significant selected financial information related to discontinued activities included in the accompanying condensed consolidated financial statements: Three Months Ended Six Months Ended December 31, 2022 December 31, 2022 MSG Entertainment Tao Group Hospitality MSG Entertainment Tao Group Hospitality Non-cash items included in net income: Depreciation and amortization $ 15,586 $ 6,087 $ 31,572 $ 13,723 Share-based compensation (credit) expense, net (543) 2,374 1,104 4,426 Cash flows from investing activities: Capital expenditures, net $ 4,353 $ 5,686 $ 9,208 $ 11,455

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Dec. 31, 2023
Revenue Recognition [Abstract]
Disaggregation of Revenue	The following tables disaggregate the Company’s revenue by major source and reportable segment based upon the timing of transfer of goods or services to the customer for the three and six months ended December 31, 2023 and 2022: Three Months Ended December 31, 2023 Sphere MSG Networks Total Event-related (a) $ 148,097 $ — $ 148,097 Sponsorship, signage, Exosphere TM advertising, and suite licenses revenues (b) 17,522 690 18,212 Media related, primarily from affiliation agreements (b) — 143,096 143,096 Other 1,418 2,572 3,990 Total revenues from contracts with customers 167,037 146,358 313,395 Revenues from subleases 762 — 762 Total revenues $ 167,799 $ 146,358 $ 314,157 Three Months Ended December 31, 2022 Sphere MSG Networks Total Sponsorship, signage, Exosphere advertising, and suite licenses (b) $ — $ 2,404 $ 2,404 Media related, primarily from affiliation agreements (b) — 154,401 154,401 Other — 2,093 2,093 Total revenues from contracts with customers — 158,898 158,898 Revenues from subleases 643 — 643 Total revenues $ 643 $ 158,898 $ 159,541 Six Months Ended December 31, 2023 Sphere MSG Networks Total Event-related (a) $ 152,156 $ — $ 152,156 Sponsorship, signage, Exosphere TM advertising, and suite licenses revenues (b) 20,082 908 20,990 Media related, primarily from affiliation agreements (b) — 252,891 252,891 Other 1,849 2,787 4,636 Total revenues from contracts with customers 174,087 256,586 430,673 Revenues from subleases 1,491 — 1,491 Total revenues $ 175,578 $ 256,586 $ 432,164 Six Months Ended December 31, 2022 Sphere MSG Networks Total Sponsorship, signage, Exosphere advertising, and suite licenses (b) $ — $ 2,648 $ 2,648 Media related, primarily from affiliation agreements (b) — 276,213 276,213 Other — 2,516 2,516 Total revenues from contracts with customers — 281,377 281,377 Revenues from subleases 1,293 — 1,293 Total revenues $ 1,293 $ 281,377 $ 282,670 _________________ (a) Event-related revenues consists of (i) the Sphere Experience, (ii) ticket sales and other ticket-related revenues, (iii) venue license fees from third-party promoters, and (iv) food, beverage and merchandise sales. Event-related revenues are recognized at a point in time. As such, these revenues have been included in the same category in the table above. (b) See Note 2. Summary of Significant Accounting Policies, Revenue Recognition, and Note 4. Revenue Recognition, to the consolidated financial statements included in the 2023 Form 10-K, for further details on the pattern of recognition of sponsorship, signage, Exosphere advertising, suite licenses, and media related revenue. In addition to the disaggregation of the Company’s revenue by major source based upon the timing of transfer of goods or services to the customer disclosed above, the following tables disaggregate the Company’s consolidated revenues by type of goods or services in accordance with the required entity-wide disclosure requirements of ASC Subtopic 280-10-50-38 to 40 and the disaggregation of revenue required disclosures in accordance with ASC Subtopic 606-10-50-5 for the three and six months ended December 31, 2023 and 2022: Three Months Ended December 31, 2023 Sphere MSG Networks Total Ticketing and venue license fee revenues (a) $ 121,821 $ — $ 121,821 Sponsorship, signage, Exosphere advertising, and suite revenues 23,406 — 23,406 Food, beverage, and merchandise revenues 21,810 — 21,810 Media networks revenues (b) — 146,358 146,358 Total revenues from contracts with customers 167,037 146,358 313,395 Revenues from subleases 762 — 762 Total revenues $ 167,799 $ 146,358 $ 314,157 Three Months Ended December 31, 2022 Sphere MSG Networks Total Media networks revenues (b) $ — $ 158,898 $ 158,898 Revenues from subleases 643 — 643 Total revenues $ 643 $ 158,898 $ 159,541 Six Months Ended December 31, 2023 Sphere MSG Networks Total Ticketing and venue license fee revenues (a) $ 124,628 $ — $ 124,628 Sponsorship, signage, Exosphere advertising, and suite revenues 26,306 — 26,306 Food, beverage, and merchandise revenues 23,153 — 23,153 Media networks revenues (b) — 256,586 256,586 Total revenues from contracts with customers 174,087 256,586 430,673 Revenues from subleases 1,491 — 1,491 Total revenues $ 175,578 $ 256,586 $ 432,164 Six Months Ended December 31, 2022 Sphere MSG Networks Total Media networks revenues (b) $ — $ 281,377 $ 281,377 Revenues from subleases 1,293 — 1,293 Total revenues $ 1,293 $ 281,377 $ 282,670 _________________ (a) Amounts include ticket sales, other ticket-related revenue, and venue license fees from the Company’s events such as (i) concerts, (ii) The Sphere Experience and (iii) other live entertainment and sporting events. (b) Primarily consists of affiliation fees from Distributors (as defined below) and, to a lesser extent, advertising revenues through the sale of commercial time and other advertising inventory during MSG Networks programming.
Contract with Customer, Contract Assets and Liabilities	The following table provides information about contract balances from the Company’s contracts with customers as of December 31, 2023 and June 30, 2023: As of December 31, June 30, 2023 2023 Receivables from contracts with customers, net (a) $ 180,589 $ 115,039 Contract assets, current (b) — 314 Deferred revenue, including non-current portion (c) 78,381 27,397 _________________ (a) Receivables from contracts with customers, net, which are reported in Accounts receivable, net in the Company’s condensed consolidated balance sheets, represent the Company’s unconditional rights to consideration under its contracts with customers. As of December 31, 2023 and June 30, 2023, the Company’s receivables from contracts with customers above included $625 and $2,730, respectively, related to various related parties. See Note 15. Related Party Transactions, for further details on these related party arrangements. (b) Contract assets current, which are reported as Prepaid expenses and other current assets in the Company’s condensed consolidated balance sheets, primarily relate to the Company’s rights to consideration for goods or services transferred to customers, for which the Company does not have an unconditional right to bill as of the reporting date. Contract assets are transferred to accounts receivable once the Company’s right to consideration becomes unconditional. (c) Revenue recognized for the three and six months ended December 31, 2023 relating to the deferred revenue balance as of June 30, 2023 was $19,254 and $20,724, respectively.

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
Restructuring Charges (Tables)	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	Changes to the Company’s restructuring liability through December 31, 2023 were as follows: Restructuring Liability June 30, 2023 $ 8,891 Restructuring charges 4,678 Payments (6,820) December 31, 2023 $ 6,749

Investments in Nonconsolidate_2

Investments in Nonconsolidated Affiliates (Tables)	6 Months Ended
Investments in Nonconsolidated Affiliates (Tables)	Dec. 31, 2023
Equity Method Investments, Joint Ventures And Cost Method Investments [Abstract]
Cost and Equity Method Investments	The Company’s investments in nonconsolidated affiliates, which are accounted for under the equity method of accounting or as equity investments without readily determinable fair value, consisted of the following: Investment As of Ownership Percentage as of December 31, 2023 December 31, June 30, Equity method investments: SACO Technologies Inc. (“SACO”) 30 % $ 19,750 $ 22,246 Holoplot Loan (a) 21,741 20,971 Holoplot 25 % 694 1,542 MSG Entertainment (b) — % — 341,039 Equity investments without readily determinable fair values 8,721 8,721 Total investments in nonconsolidated affiliates $ 50,906 $ 394,519 _________________ (a) In January 2023, the Company, through an indirect subsidiary, extended financing to Holoplot GmbH (“Holoplot”) in the form of a three-year convertible loan (the “Holoplot Loan”) of €18,804, equivalent to $20,484 using the applicable exchange rate at the time of the transaction. Absent conversion, which is currently not available under the terms of the Holoplot Loan, the Holoplot Loan and interest accrued thereon are due and payable at the conclusion of the three-year term. (b) As of December 31, 2023, following the sale of portions of the MSGE Retained Interest and the repayment of the DDTL Facility (as defined below) with MSG Entertainment using a portion of the MSGE Retained Interest, the Company no longer holds any of the outstanding common stock of MSG Entertainment. The Company elected the fair value option for its investment in MSG Entertainment as of June 30, 2023, when it held approximately 20% of the outstanding shares of common stock of MSG Entertainment (in the form of Class A common stock). The fair value of the investment was determined based on quoted market prices on the New York Stock Exchange (“NYSE”), which were classified within Level I of the fair value hierarchy.
Gain (Loss) on Securities	The following table summarizes the realized and unrealized gain (loss) on equity investments with and without readily determinable fair values, which is reported in Other (expense) income, net, for the three and six months ended December 31, 2023 and 2022: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Unrealized gain $ — $ — $ — $ 1,969 Realized loss from shares of MSG Entertainment Class A common stock sold — — (19,027) — Total realized and unrealized (loss) gain on equity investments $ — $ — $ (19,027) $ 1,969 Supplemental information on realized loss: Shares of MSG Entertainment Class A common stock disposed (a) — — 1,923 — Shares of MSG Entertainment Class A common stock sold (b) — — 8,221 — Cash proceeds from shares of MSG Entertainment Class A common stock sold $ — $ — $ 256,501 $ — _________________ (a) Refer to Note 11. Credit Facilities and Convertible Notes, for further explanation of the approximately 1,923 shares disposed related to the repayment of the DDTL Facility. (b) The sale of approximately 8,221 shares of MSG Entertainment Class A common stock resulted in the cash proceeds from common stock sold.

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
Property and Equipment, net (Tables)	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	As of December 31, 2023 and June 30, 2023, property and equipment, net consisted of the following: As of December 31, June 30, Land $ 44,569 $ 80,878 Buildings 2,287,504 69,049 Equipment, furniture, and fixtures 1,111,070 159,786 Leasehold improvements 18,491 18,491 Construction in progress 6,565 3,066,785 Total property and equipment, gross 3,468,199 3,394,989 Less accumulated depreciation and amortization (180,266) (87,828) Property and equipment, net $ 3,287,933 $ 3,307,161

Original Immersive Production_2

Original Immersive Production Content (Tables)	6 Months Ended
Original Immersive Production Content (Tables)	Dec. 31, 2023
Other Industries [Abstract]
Schedule Of Deferred Immersive Production Costs	As of December 31, 2023 and June 30, 2023, total deferred immersive production content costs consisted of the following: As of December 31, June 30, Production content Released, less amortization $ 76,194 $ — In-process — 61,421 Total production content $ 76,194 $ 61,421
Schedule Of Amortization Of Deferred Immersive Production Costs	The following table summarizes the Company’s amortization of production content costs, which is reported in Direct operating expenses in the accompanying condensed consolidated statements of operations for the three and six months ended December 31, 2023 and 2022 as follows: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Production content costs (a) $ 5,545 $ — $ 5,545 $ — _________________ (a) For purposes of amortization and impairment, each deferred immersive production content cost is classified based on its predominant monetization strategy. The Company’s current original immersive productions are monetized individually. Refer to Note 2. Accounting Policies, for further explanation of the monetization strategy.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
Goodwill and Intangible Assets (Tables)	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount of Goodwill by Reportable Segment	The carrying amounts of goodwill as of December 31, 2023 and June 30, 2023 were as follows: As of December 31, June 30, Sphere $ 32,299 $ 32,299 MSG Networks 424,508 424,508 Total Goodwill $ 456,807 $ 456,807
Schedule of Intangible Assets Subject to Amortization	The Company’s intangible assets subject to amortization, which relate to affiliate relationships, as of December 31, 2023 and June 30, 2023 were as follows: As of December 31, June 30, Gross carrying amount $ 83,044 $ 83,044 Accumulated amortization (66,691) (65,134) Intangible assets, net $ 16,353 $ 17,910

Credit Facilities and Convert_2

Credit Facilities and Convertible Notes (Tables)	6 Months Ended
Credit Facilities and Convertible Notes (Tables)	Dec. 31, 2023
Line of Credit Facility [Abstract]
Schedule of Debt Outstanding and Deferred Financing Costs	The following table summarizes the presentation of the outstanding balances under the Company’s credit agreements as of December 31, 2023 and June 30, 2023: As of December 31, 2023 June 30, 2023 Principal Unamortized Deferred Financing Costs Net Principal Unamortized Deferred Financing Costs Net Current portion MSG Networks Term Loan $ 891,000 $ (890) $ 890,110 $ 82,500 $ — $ 82,500 Current portion of long-term debt, net $ 891,000 $ (890) $ 890,110 $ 82,500 $ — $ 82,500 As of December 31, 2023 June 30, 2023 Principal Debt Discount Unamortized Deferred Financing Costs Net Principal Debt Discount Unamortized Deferred Financing Costs Net Non-current portion MSG Networks Term Loan $ — $ — $ — $ — $ 849,750 $ — $ (1,483) $ 848,267 LV Sphere Term Loan Facility 275,000 — (4,331) 270,669 275,000 — (4,880) 270,120 3.50% Convertible Senior Notes 258,750 (7,116) (890) 250,744 — — — — Long-term debt, net $ 533,750 $ (7,116) $ (5,221) $ 521,413 $ 1,124,750 $ — $ (6,363) $ 1,118,387
Interest Payments and Loan Principal Repayments	Interest payments and loan principal repayments made by the Company under the credit agreements were as follows: Interest Payments Loan Principal Repayments Six Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 MSG Networks Credit Facilities $ 34,825 $ 24,468 $ 41,250 $ 24,750 LV Sphere Term Loan Facility 13,412 — — — Delayed Draw Term Loan Facility 460 — 65,000 — Total Payments $ 48,697 $ 24,468 $ 106,250 $ 24,750 The carrying value and fair value of the Company’s debt reported in the accompanying condensed consolidated balance sheets are as follows: As of December 31, 2023 June 30, 2023 Carrying Value (a) Fair Carrying Value (a) Fair Liabilities: MSG Networks Credit Facilities $ 891,000 $ 886,545 $ 932,250 $ 927,589 LV Sphere Term Loan Facility 275,000 273,625 275,000 272,250 3.50% Convertible Senior Notes 251,634 298,779 — — Total Long-term debt $ 1,417,634 $ 1,458,949 $ 1,207,250 $ 1,199,839 _________________ (a) The total carrying value of the Company’s debt as of December 31, 2023 and June 30, 2023 is equal to the current and non-current principal payments for the Company’s credit agreements, net of discount, excluding unamortized deferred financing costs of $6,111 and $6,363, respectively.

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefit Plan (Tables)	6 Months Ended
	Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Periodic Benefit Cost	The following table presents components of net periodic benefit cost for the Pension Plans and Postretirement Plan included in the accompanying condensed consolidated statements of operations for the three and six months ended December 31, 2023 and 2022. Service cost is recognized in direct operating expenses and selling, general and administrative expenses. All other components of net periodic benefit cost are reported in Other expense, net. Pension Plans Postretirement Plan Three Months Ended Three Months Ended December 31, December 31, 2023 2022 2023 2022 Service cost $ 61 $ 123 $ 5 $ 15 Interest cost 429 1,189 17 19 Expected return on plan assets 79 (1,719) — — Recognized actuarial loss (gain) 120 501 (17) 9 Net periodic benefit cost $ 689 $ 94 $ 5 $ 43 Pension Plans Postretirement Plan Six Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Service cost $ 122 $ 246 $ 10 $ 30 Interest cost 868 2,378 34 38 Expected return on plan assets (134) (3,438) — — Recognized actuarial loss (gain) (104) 1,002 (34) 18 Net periodic benefit cost $ 752 $ 188 $ 10 $ 86
Schedule of Defined Contribution Plans	For the three and six months ended December 31, 2023 and 2022, expenses related to the Savings Plans included in the accompanying condensed consolidated statements of operations are as follows: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Continuing Operations $ 2,003 $ 1,734 $ 3,213 $ 3,121 Discontinued Operations — 1,008 — 2,186 Total Savings Plan Expenses $ 2,003 $ 2,742 $ 3,213 $ 5,307
Schedule of Defined Benefit Plans Disclosures	The following table summarizes amounts recognized related to the Deferred Compensation Plan in the condensed consolidated balance sheets: As of December 31, June 30, Non-current assets (included in Other non-current assets) $ 2,856 $ 1,087 Non-current liabilities (included in Other non-current liabilities) $ (2,855) $ (1,087)

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
Share-based Compensation (Tables)	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Expense	The following table summarizes the Company’s share-based compensation expense: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Share-based compensation (a) $ 12,072 $ 16,355 $ 16,955 $ 27,845 Fair value of awards vested (b) $ 3,267 $ 2,995 $ 33,421 $ 35,127 _________________ (a) Share-based compensation excludes costs that have been capitalized of $1,574 and $1,802 for the six months ended December 31, 2023 and 2022, respectively.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
Stockholders' Equity (Tables)	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables detail the components of accumulated other comprehensive loss: Three Months Ended December 31, 2023 Pension Plans and Cumulative Accumulated Balance as of September 30, 2023 $ (5,316) $ (5,667) $ (10,983) Other comprehensive income: Other comprehensive income before reclassifications — 6,199 6,199 Amounts reclassified from accumulated other comprehensive loss (a) 103 — 103 Income tax expense (27) (1,606) (1,633) Other comprehensive income, total 76 4,593 4,669 Balance as of December 31, 2023 $ (5,240) $ (1,074) $ (6,314) Three Months Ended December 31, 2022 Pension Plans and Cumulative Accumulated Balance as of September 30, 2022 $ (39,787) $ (21,194) $ (60,981) Other comprehensive income: Other comprehensive income before reclassifications — 14,803 14,803 Amounts reclassified from accumulated other comprehensive loss (a) 510 — 510 Income tax expense (176) (2,719) (2,895) Other comprehensive income, total 334 12,084 12,418 Balance as of December 31, 2022 $ (39,453) $ (9,110) $ (48,563) Six Months Ended December 31, 2023 Pension Plans and Postretirement Plan Cumulative Accumulated Balance as of June 30, 2023 $ (5,138) $ 200 $ (4,938) Other comprehensive loss: Other comprehensive loss before reclassifications — (1,720) (1,720) Amounts reclassified from accumulated other comprehensive loss (a) (138) — (138) Income tax benefit 36 446 482 Other comprehensive loss, total (102) (1,274) (1,376) Balance as of December 31, 2023 $ (5,240) $ (1,074) $ (6,314) Six Months Ended December 31, 2022 Pension Plans and Cumulative Accumulated Balance as of June 30, 2022 $ (40,287) $ (8,068) $ (48,355) Other comprehensive income (loss): Other comprehensive loss before reclassifications — (1,277) (1,277) Amounts reclassified from accumulated other comprehensive loss (a) 1,020 — 1,020 Income tax (expense) benefit (186) 235 49 Other comprehensive income (loss), total 834 (1,042) (208) Balance as of December 31, 2022 $ (39,453) $ (9,110) $ (48,563) _________________ (a) Amounts reclassified from accumulated other comprehensive loss represent the amortization of net actuarial loss and net unrecognized prior service credit included in net periodic benefit cost, which is reflected under Other income (expense), net in the accompanying condensed consolidated statements of operations (see Note 12. Pension Plans and Other Postretirement Benefit Plans).

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the composition and amounts of the transactions with the Company’s affiliates. These amounts are reflected in revenues and operating expenses in the accompanying condensed consolidated statements of operations for the three and six months ended December 31, 2023 and 2022: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Revenues $ 1,657 $ — $ 2,047 $ — Operating expenses (credits): Media rights fees 44,485 43,433 88,670 86,200 Cost reimbursement from MSG Sports - MSG Sports Services Agreement — (9,475) — (18,992) Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement (a) 25,780 — 56,117 — Origination, master control and technical services 1,257 1,232 2,514 2,464 Other operating expenses (credits), net (b) 7,497 (285) 8,041 (296) Total operating expenses, net (c) $ 79,019 $ 34,905 $ 155,342 $ 69,376 _________________ (a) Included in the six months ended, Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement (the “MSGE TSA”) are $2,805 related to Restructuring charges for employees who provided services to the Company under the MSGE TSA. (b) Other operating expenses, net, includes reimbursements to MSG Entertainment for aircraft-related expenses, professional and payroll fees. (c) Of the total operating expenses, net, $47,459 and $93,537 for three and six months ended December 31, 2023, respectively, and $44,859 and $89,107 for the three and six months ended December 31, 2022, respectively, are included in direct operating expenses in the accompanying condensed consolidated statements of operations, and $31,560 and $61,805 for three and six months ended December 31, 2023, respectively, and $(9,954) and $(19,731) for the three and six months ended December 31, 2022, respectively, are included as net credits in selling, general, and administrative expenses.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Information, by Segment	Information as to the operations of the Company’s reportable segments is set forth below. Three Months Ended December 31, 2023 Sphere MSG Networks Total Revenues $ 167,799 $ 146,358 $ 314,157 Direct operating expenses (67,338) (92,428) (159,766) Selling, general and administrative expenses (97,804) (17,716) (115,520) Depreciation and amortization (78,044) (1,987) (80,031) Impairment and other losses, net (117,235) — (117,235) Restructuring charges (1,287) — (1,287) Operating (loss) income $ (193,909) $ 34,227 $ (159,682) Interest income 5,926 Interest expense (25,828) Other expense, net (1,130) Loss from operations before income taxes $ (180,714) Reconciliation of operating (loss) income to adjusted operating income: Operating (loss) income $ (193,909) $ 34,227 $ (159,682) Add back: Share-based compensation 10,985 931 11,916 Depreciation and amortization 78,044 1,987 80,031 Restructuring charges 1,287 — 1,287 Impairment and other losses, net 117,235 — 117,235 Merger and acquisition related costs, net of insurance recoveries 200 180 380 Amortization for capitalized cloud computing arrangement costs — 22 22 Remeasurement of deferred compensation plan liabilities 245 — 245 Adjusted operating income $ 14,087 $ 37,347 $ 51,434 Other information: Capital expenditures $ 44,298 $ 3,103 $ 47,401 Three Months Ended December 31, 2022 Sphere MSG Networks Total Revenues $ 643 $ 158,898 $ 159,541 Direct operating expenses — (90,400) (90,400) Selling, general and administrative expenses (74,759) (29,656) (104,415) Depreciation and amortization (5,749) (1,637) (7,386) Other gains 1,000 — 1,000 Restructuring charges (4,087) (3,988) (8,075) Operating (loss) income $ (82,952) $ 33,217 $ (49,735) Interest income 2,669 Other expense, net (1,355) Loss from operations before income taxes $ (48,421) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (82,952) $ 33,217 $ (49,735) Add back: Share-based compensation 13,056 3,299 16,355 Depreciation and amortization 5,749 1,637 7,386 Restructuring charges 4,087 3,988 8,075 Other gains (1,000) — (1,000) Merger and acquisition related costs (58) 5,544 5,486 Amortization for capitalized cloud computing arrangement costs 83 44 127 Remeasurement of deferred compensation plan liabilities 154 — 154 Adjusted operating (loss) income (60,881) $ 47,729 $ (13,152) Other information: Capital expenditures $ 277,014 $ 2,665 $ 279,679 Six Months Ended December 31, 2023 Sphere MSG Networks Total Revenues $ 175,578 $ 256,586 $ 432,164 Direct operating expenses (75,143) (169,122) (244,265) Selling, general and administrative expenses (181,954) (20,710) (202,664) Depreciation and amortization (90,421) (3,869) (94,290) Impairment and other losses, net (115,738) — (115,738) Restructuring charges (4,678) — (4,678) Operating (loss) income $ (292,356) $ 62,885 $ (229,471) Interest income 10,304 Interest expense (25,828) Other income, net 41,066 Loss from operations before income taxes $ (203,929) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (292,356) $ 62,885 $ (229,471) Add back: Share-based compensation 14,904 1,895 16,799 Depreciation and amortization 90,421 3,869 94,290 Restructuring charges 4,678 — 4,678 Impairment and other losses, net 115,738 — 115,738 Merger and acquisition related costs, net of insurance recoveries (2,502) (6,161) (8,663) Amortization for capitalized cloud computing arrangement costs — 44 44 Remeasurement of deferred compensation plan liabilities 138 — 138 Adjusted operating (loss) income $ (68,979) $ 62,532 $ (6,447) Other information: Capital expenditures $ 227,461 $ 4,511 $ 231,972 Six Months Ended December 31, 2022 Sphere MSG Networks Total Revenues $ 1,293 $ 281,377 $ 282,670 Direct operating expenses — (165,820) (165,820) Selling, general and administrative expenses (151,950) (47,096) (199,046) Depreciation and amortization (10,264) (3,255) (13,519) Other gains 3,000 — 3,000 Restructuring charges (4,087) (3,988) (8,075) Operating (loss) income $ (162,008) $ 61,218 $ (100,790) Interest income 6,002 Other expense, net (1,770) Loss from operations before income taxes $ (96,558) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (162,008) $ 61,218 $ (100,790) Add back: Share-based compensation 22,842 5,003 27,845 Depreciation and amortization 10,264 3,255 13,519 Restructuring charges 4,087 3,988 8,075 Other gains (3,000) — (3,000) Merger and acquisition related costs 2,691 7,445 10,136 Amortization for capitalized cloud computing arrangement costs 160 88 248 Adjusted operating (loss) income $ (124,964) $ 80,997 $ (43,967) Other information: Capital expenditures $ 537,253 $ 3,892 $ 541,145
Schedules of Concentration of Risk, by Risk Factor	Concentration of Risk Accounts receivable, net in the accompanying condensed consolidated balance sheets as of December 31, 2023 and June 30, 2023 include amounts due from the following individual customers, which accounted for the noted percentages of the gross balance: As of December 31, June 30, Customer A 13 % 23 % Customer B 13 % 22 % Customer C 10 % 17 % Revenues in the accompanying condensed consolidated statements of operations for the three and six months ended December 31, 2023 and December 31, 2022 include amounts from the following individual customers: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Customer 1 11 % 24 % 16 % 27 % Customer 2 11 % 24 % 16 % 27 % Customer 3 9 % 19 % 13 % 22 %

Additional Financial Informat_2

Additional Financial Information (Tables)	6 Months Ended
Additional Financial Information (Tables)	Dec. 31, 2023
Additional Financial Information [Abstract]
Schedule Of Cash, Cash Equivalents, and Restricted Cash	The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of December 31, June 30, Cash and cash equivalents $ 614,549 $ 131,965 Restricted cash 13,278 297,149 Total cash, cash equivalents and restricted cash $ 627,827 $ 429,114
Cash, Cash Equivalents and Restricted Cash	The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of December 31, June 30, Cash and cash equivalents $ 614,549 $ 131,965 Restricted cash 13,278 297,149 Total cash, cash equivalents and restricted cash $ 627,827 $ 429,114
Schedule of Other Current Assets	Prepaid expenses and other current assets consisted of the following: As of December 31, June 30, Prepaid expenses $ 21,201 $ 22,616 Note and other receivables 11,050 21,453 Inventory 894 — Current deferred production content costs 9,772 6,524 Other 3,893 5,492 Total prepaid expenses and other current assets $ 46,810 $ 56,085
Other Current Liabilities	Accounts payable, accrued and other current liabilities consisted of the following: As of December 31, June 30, Accounts payable $ 28,032 $ 39,654 Accrued payroll and employee related liabilities 61,316 75,579 Cash due to promoters 67,121 73,611 Capital expenditure accruals 164,247 236,593 Accrued legal fees 23,159 53,857 Other accrued expenses 48,028 36,437 Total accounts payable, accrued and other current liabilities $ 391,903 $ 515,731
Schedule of Other Nonoperating Income (Expense)	Other income (expense), net includes the following: Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Gain on litigation settlement $ — $ — $ 62,647 $ — Realized loss on equity method investments — — (19,027) — Other (1,130) (1,355) (2,554) (1,770) Total other (expense) income, net $ (1,130) $ (1,355) $ 41,066 $ (1,770)

Description of Business and B_2

Description of Business and Basis of Presentation (Details)		6 Months Ended
Description of Business and Basis of Presentation (Details)	Apr. 20, 2023 $ / shares shares	Dec. 31, 2023 ft² segment network guest ft $ / shares	Jun. 30, 2023 $ / shares	May 03, 2023
Conversion of Stock [Line Items]
Number of reportable segments \| segment		2
Number of networks \| network		2
Venue occupancy, number of guests \| guest		20,000
Building height, feet (in feet) \| ft		100
Common Class A
Conversion of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)		$ 0.01	$ 0.01
Common Class B
Conversion of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)		$ 0.01	$ 0.01
Discontinued Operations, Disposed of by Sale \| Tao Group Hospitality
Conversion of Stock [Line Items]
Disposal group, including discontinued operation, ownership percentage in disposed asset				66.90%
Spinoff \| MSG Entertainment \| Common Class A
Conversion of Stock [Line Items]
Number of shares received for every one common stock shares held on record date (in shares) \| shares	1
Common stock, par or stated value per share (in dollars per share)	$ 0.01
Spinoff \| MSG Entertainment \| Common Class B
Conversion of Stock [Line Items]
Number of shares received for every one common stock shares held on record date (in shares) \| shares	1
Common stock, par or stated value per share (in dollars per share)	$ 0.01
Spinoff \| Sphere \| Common Class A
Conversion of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.01
MSG Entertainment \| Spinoff \| MSG Stockholders
Conversion of Stock [Line Items]
Noncontrolling interest, ownership percentage by parent	67%
Noncontrolling interest, ownership percentage by noncontrolling owners	33%
Studio Campus
Conversion of Stock [Line Items]
Building, square footage (in square feet) \| ft²		68,000
Big Dome
Conversion of Stock [Line Items]
Building, square footage (in square feet) \| ft²		28,000

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Thousands	8 Months Ended
Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Oct. 31, 2024	Dec. 31, 2023	Dec. 08, 2023	Sep. 30, 2023	Jun. 30, 2023
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents			$ 614,549		$ 433,507
Customer advances			120,930
Restricted cash			13,278		$ 18,235
Accounts payable, accrued and other current liabilities			391,903			$ 515,731
Capital expenditure accruals			164,247			236,593
Net			1,424,750
Current portion of long-term debt, net			890,110			82,500
Secured Debt \| MSG Networks \| Forecast [Member]
Cash and Cash Equivalents [Line Items]
Repayments of secured debt	$ 61,875
MSG Networks Term Loan \| Line of Credit \| Secured Debt
Cash and Cash Equivalents [Line Items]
Current portion of long-term debt, net			$ 890,110			82,500
Long-term debt, term			1 year
MSG Networks Term Loan \| Line of Credit \| Forecast [Member] \| Secured Debt
Cash and Cash Equivalents [Line Items]
Current portion of long-term debt, net		$ 829,125
MSG Networks Term Loan \| Debt
Cash and Cash Equivalents [Line Items]
Carrying value			$ 891,000			932,250
3.50% Convertible Senior Notes \| Senior Notes
Cash and Cash Equivalents [Line Items]
Interest rate				3.50%
3.50% Convertible Senior Notes \| Debt
Cash and Cash Equivalents [Line Items]
Carrying value			251,634			$ 0
MSG Networks
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents			$ 82,687

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Income (loss) from discontinued operations, net of taxes	$ 0	$ 97,865	$ (647)	$ 100,125
Income tax expense	$ 0		$ 294

Discontinued Operations - Sched

Discontinued Operations - Schedule of Disposed Income Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax expense	$ 0		$ (294)
Net income	$ 0	$ 97,865	$ (647)	$ 100,125
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		482,657		760,746
Direct operating expenses		(257,762)		(435,212)
Selling, general and administrative expenses		(78,815)		(149,625)
Depreciation and amortization		(21,673)		(45,295)
Impairment and other gains, net		4,885		4,885
Restructuring charges		(5,607)		(5,607)
Operating income		123,685		129,892
Interest income		934		1,555
Interest expense		(894)		(3,061)
Other (loss) income, net		(2,498)		(558)
Income from operations before income taxes		121,227		127,828
Income tax expense		(23,362)		(27,703)
Net income		97,865		100,125
Less: Net (loss) income attributable to nonredeemable noncontrolling interests		(56)		(466)
Less: Net income attributable to redeemable noncontrolling interests		3,029		4,153
Net income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders		94,892		96,438
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| MSG Entertainment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization		(15,586)		(31,572)
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| Tao Group Hospitality
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization		(6,087)		(13,723)
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| Operating segments \| MSG Entertainment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		348,637		494,712
Direct operating expenses		(181,730)		(282,393)
Selling, general and administrative expenses		(36,237)		(64,966)
Depreciation and amortization		(15,586)		(31,572)
Impairment and other gains, net		4,412		4,412
Restructuring charges		(5,607)		(5,607)
Operating income		113,889		114,586
Interest income		911		1,519
Interest expense		(58)		(1,083)
Other (loss) income, net		(2,171)		(1,285)
Income from operations before income taxes		112,571		113,737
Income tax expense		(18,479)		(21,415)
Net income		94,092		92,322
Less: Net (loss) income attributable to nonredeemable noncontrolling interests		(181)		(553)
Less: Net income attributable to redeemable noncontrolling interests		0		0
Net income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders		94,273		92,875
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| Operating segments \| Tao Group Hospitality
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		134,645		267,221
Direct operating expenses		(76,903)		(154,066)
Selling, general and administrative expenses		(42,116)		(84,659)
Depreciation and amortization		(6,087)		(13,723)
Impairment and other gains, net		473		473
Restructuring charges		0		0
Operating income		10,012		15,246
Interest income		23		36
Interest expense		(836)		(1,978)
Other (loss) income, net		(327)		727
Income from operations before income taxes		8,872		14,031
Income tax expense		(4,883)		(6,288)
Net income		3,989		7,743
Less: Net (loss) income attributable to nonredeemable noncontrolling interests		125		87
Less: Net income attributable to redeemable noncontrolling interests		3,029		4,153
Net income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders		835		3,503
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| Other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		(625)		(1,187)
Direct operating expenses		871		1,247
Selling, general and administrative expenses		(462)		0
Depreciation and amortization		0		0
Impairment and other gains, net		0		0
Restructuring charges		0		0
Operating income		(216)		60
Interest income		0		0
Interest expense		0		0
Other (loss) income, net		0		0
Income from operations before income taxes		(216)		60
Income tax expense		0		0
Net income		(216)		60
Less: Net (loss) income attributable to nonredeemable noncontrolling interests		0		0
Less: Net income attributable to redeemable noncontrolling interests		0		0
Net income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders		$ (216)		$ 60

Discontinued Operations - Sch_2

Discontinued Operations - Schedule of Disposed Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Non-cash items included in net income:
Share-based compensation		$ 16,851	$ 35,666
Cash flows from investing activities:
Capital expenditures, net		$ 230,475	558,808
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Non-cash items included in net income:
Depreciation and amortization	$ 21,673		45,295
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| MSG Entertainment
Non-cash items included in net income:
Depreciation and amortization	15,586		31,572
Share-based compensation	(543)		1,104
Cash flows from investing activities:
Capital expenditures, net	4,353		9,208
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| Tao Group Hospitality
Non-cash items included in net income:
Depreciation and amortization	6,087		13,723
Share-based compensation	2,374		4,426
Cash flows from investing activities:
Capital expenditures, net	$ 5,686		$ 11,455

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 313,395	$ 158,898	$ 430,673	$ 281,377
Revenues from subleases	762	643	1,491	1,293
Revenues	314,157	159,541	432,164	282,670
Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	167,037	0	174,087	0
Revenues from subleases	762	643	1,491	1,293
Revenues	167,799	643	175,578	1,293
MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	146,358	158,898	256,586	281,377
Revenues from subleases	0	0	0	0
Revenues	146,358	158,898	256,586	281,377
Sponsorship, signage, exosphere advertising and suite license revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	23,406		26,306
Sponsorship, signage, exosphere advertising and suite license revenues \| Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	23,406		26,306
Sponsorship, signage, exosphere advertising and suite license revenues \| MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0		0
Ticketing and venue license fee revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	121,821		124,628
Ticketing and venue license fee revenues \| Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	121,821		124,628
Ticketing and venue license fee revenues \| MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0		0
Food, beverage and merchandise revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	21,810		23,153
Food, beverage and merchandise revenues \| Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	21,810		23,153
Food, beverage and merchandise revenues \| MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0		0
Media networks revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	146,358	158,898	256,586	281,377
Media networks revenues \| Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
Media networks revenues \| MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	146,358	158,898	256,586	281,377
Transferred over Time \| Event-related
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	148,097		152,156
Transferred over Time \| Event-related \| Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	148,097		152,156
Transferred over Time \| Event-related \| MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0		0
Transferred over Time \| Sponsorship, signage, exosphere advertising and suite license revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	18,212	2,404	20,990	2,648
Transferred over Time \| Sponsorship, signage, exosphere advertising and suite license revenues \| Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	17,522	0	20,082	0
Transferred over Time \| Sponsorship, signage, exosphere advertising and suite license revenues \| MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	690	2,404	908	2,648
Transferred over Time \| Media related, primarily from affiliation agreements
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	143,096	154,401	252,891	276,213
Transferred over Time \| Media related, primarily from affiliation agreements \| Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
Transferred over Time \| Media related, primarily from affiliation agreements \| MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	143,096	154,401	252,891	276,213
Transferred at Point in Time \| Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	3,990	2,093	4,636	2,516
Transferred at Point in Time \| Other \| Sphere \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,418	0	1,849	0
Transferred at Point in Time \| Other \| MSG Networks \| Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 2,572	$ 2,093	$ 2,787	$ 2,516

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Jun. 30, 2023
Contract Assets and Liabilities [Line Items]
Contract with customer, deferred revenue, revenue recognized	$ 19,254	$ 20,724
Receivables from contracts with customers, net
Contract Assets and Liabilities [Line Items]
Contracts with customers, assets, net	180,589	180,589	$ 115,039
Contract assets, current
Contract Assets and Liabilities [Line Items]
Contracts with customers, assets, net	0	0	314
Deferred revenue, including non-current portion
Contract Assets and Liabilities [Line Items]
Deferred revenue, including non-current portion	78,381	78,381	27,397
Affiliated Entities \| Net related party receivables
Contract Assets and Liabilities [Line Items]
Contracts with customers, assets, net	$ 625	$ 625	$ 2,730

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligation (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 175,820
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	50%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	27%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years

Restructuring and Related Activ

Restructuring and Related Activities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 1,287	$ 8,075	$ 4,678	$ 8,075

Restructuring Charges - Schedul

Restructuring Charges - Schedule of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Restructuring Liability
Restructuring reserve, beginning balance			$ 8,891
Restructuring charges	$ 1,287	$ 8,075	4,678	$ 8,075
Payments			(6,820)
Restructuring reserve, ending balance	$ 6,749		$ 6,749

Investments in Nonconsolidate_3

Investments in Nonconsolidated Affiliates - Schedule Without Readily Determinable Fair Values (Details) € in Thousands, $ in Thousands	1 Months Ended
	Jan. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jan. 31, 2023 EUR (€)
Schedule of Investments [Line Items]
Investments		$ 50,906	$ 394,519
Equity Method Investments \| SACO Technologies Inc. (“SACO”)
Schedule of Investments [Line Items]
Ownership Percentage as of December 31, 2023		30%
Investments		$ 19,750	22,246
Equity Method Investments \| Holoplot Loan
Schedule of Investments [Line Items]
Investments		$ 21,741	20,971
Financing receivable, term	3 years
Face amount	$ 20,484			€ 18,804
Equity Method Investments \| Holoplot
Schedule of Investments [Line Items]
Ownership Percentage as of December 31, 2023		25%
Investments		$ 694	$ 1,542
Equity Method Investments \| MSG Entertainment
Schedule of Investments [Line Items]
Ownership Percentage as of December 31, 2023		0%	20%
Investments		$ 0	$ 341,039
Equity investments without readily determinable fair values
Schedule of Investments [Line Items]
Investments		$ 8,721	$ 8,721

Investments in Nonconsolidate_4

Investments in Nonconsolidated Affiliates - Schedule With Readily Determinable Fair Values (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Total realized and unrealized (loss) gain on equity investments			$ (19,880)	$ (2,978)
Supplemental information on realized loss:
Cash proceeds from shares of MSG Entertainment Class A common stock sold			0	3,819
MSG Entertainment
Debt and Equity Securities, FV-NI [Line Items]
Unrealized gain	$ 0	$ 0	0	1,969
Realized loss from shares of MSG Entertainment Class A common stock sold	0	0	(19,027)	0
Total realized and unrealized (loss) gain on equity investments	$ 0	$ 0	$ (19,027)	$ 1,969
Supplemental information on realized loss:
Shares of MSG Entertainment Class A common stock disposed (in shares)	0	0	1,923	0
Shares of MSG Entertainment Class A common stock sold (in shares)	0	0	8,221	0
Cash proceeds from shares of MSG Entertainment Class A common stock sold	$ 0	$ 0	$ 256,501	$ 0

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment	$ 3,468,199	$ 3,394,989
Less accumulated depreciation and amortization	(180,266)	(87,828)
Property and equipment, net	3,287,933	3,307,161
Land
Property, Plant and Equipment [Line Items]
Property and equipment	44,569	80,878
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment	2,287,504	69,049
Equipment, furniture, and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	1,111,070	159,786
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	18,491	18,491
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment	$ 6,565	$ 3,066,785

Property and Equipment, net - A

Property and Equipment, net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Capital expenditure accruals	$ 164,247			$ 164,247		$ 236,593
Property, plant and equipment, transfers and changes		$ 3,130,028
Depreciation and amortization expense on property and equipment	79,253		$ 6,607	92,733	$ 11,961
Impairment charges	$ 116,541			$ 116,541

Original Immersive Production_3

Original Immersive Production Content - Schedule of Deferred Immersive Production Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Other Industries [Abstract]
Released, less amortization	$ 76,194		$ 76,194		$ 0
In-process	0		0		61,421
Total production content	76,194		76,194		$ 61,421
Produced content costs	$ 5,545	$ 0	$ 5,545	$ 0

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 456,807	$ 456,807
Sphere
Finite-Lived Intangible Assets [Line Items]
Goodwill	32,299	32,299
MSG Networks
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 424,508	$ 424,508

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended			6 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, impairment loss		$ 0
Amortization of intangible assets	$ 778,000		$ 779,000	$ 1,557,000	$ 1,558,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amount	$ 83,044	$ 83,044
Accumulated amortization	(66,691)	(65,134)
Intangible assets, net	$ 16,353	$ 17,910

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands				3 Months Ended		6 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Apr. 06, 2023 USD ($)	Mar. 14, 2023 USD ($)	Sep. 10, 2021 complaint	Dec. 31, 2023 USD ($) complaint	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) complaint	Dec. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Sep. 27, 2021 complaint
Loss Contingencies [Line Items]
Contractual obligation								$ 3,134,884
Loss contingency, number of complaints filed \| complaint						15
Loss contingency, remaining claims filed involving fiduciary breaches \| complaint				2		2
Loss contingency, new claims filed, number \| complaint			2
Gain on litigation settlement				$ 0	$ 0	$ 62,647	$ 0
Loss contingency, number of consolidated claims \| complaint									4
MSGE Settlement Agreement \| Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded from other party		$ 85,000
Gain on litigation settlement						62,647
MSGE Networks Term Sheet \| Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party						48,500
Payments for legal settlements						28,000
Loss contingency accrual				$ 20,500		$ 20,500
MSGE Networks Term Sheet \| Settled Litigation \| MSG Network Insurers
Loss Contingencies [Line Items]
Payments for legal settlements	$ 20,500
Networks Merger
Loss Contingencies [Line Items]
Loss contingency, new claims filed with incomplete and misleading information \| complaint						9
Loss contingency, new claims filed involving fiduciary breaches \| complaint						6

Credit Facilities and Convert_3

Credit Facilities and Convertible Notes - Debt Outstanding and Deferred Financing Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 08, 2023	Jun. 30, 2023
Current portion
Principal	$ 891,000		$ 82,500
Unamortized Deferred Financing Costs	(890)		0
Net	890,110		82,500
Non-current portion
Net	521,413		1,118,387
Line of Credit \| Secured Debt
Non-current portion
Principal	533,750		1,124,750
Debt Discount	(7,116)		0
Unamortized Deferred Financing Costs	(5,221)		(6,363)
Net	521,413		1,118,387
Line of Credit \| MSG Networks Term Loan \| Secured Debt
Current portion
Principal	891,000		82,500
Unamortized Deferred Financing Costs	(890)		0
Net	890,110		82,500
Non-current portion
Principal	0		849,750
Debt Discount	0		0
Unamortized Deferred Financing Costs	0		(1,483)
Net	0		848,267
Line of Credit \| LV Sphere Term Loan Facility \| Secured Debt
Non-current portion
Principal	275,000		275,000
Debt Discount	0		0
Unamortized Deferred Financing Costs	(4,331)		(4,880)
Net	270,669		270,120
Line of Credit \| 3.50% Convertible Senior Notes \| Secured Debt
Non-current portion
Principal	258,750		0
Debt Discount	(7,116)		0
Unamortized Deferred Financing Costs	(890)		0
Net	$ 250,744		$ 0
Senior Notes \| 3.50% Convertible Senior Notes
Non-current portion
Interest rate		3.50%

Credit Facilities and Convert_4

Credit Facilities and Convertible Notes - MSG Networks - Narrative (Details)		6 Months Ended
	Oct. 11, 2019 USD ($)	Dec. 31, 2023 USD ($)
MSG Networks Credit Facilities \| Measurement Input, Leverage Ratio
Debt Instrument [Line Items]
Debt instrument, measurement input		5.29
MSG Networks Credit Facilities \| Measurement Input, Leverage Ratio \| Incremental adjustment
Debt Instrument [Line Items]
Debt instrument, measurement input		6
MSG Networks Credit Facilities \| Minimum \| Measurement Input, Interest Coverage Ratio
Debt Instrument [Line Items]
Debt instrument, measurement input		2
MSG Networks Credit Facilities \| Maximum \| Measurement Input, Leverage Ratio
Debt Instrument [Line Items]
Debt instrument, measurement input		5.50
MSG Networks Credit Facilities \| Maximum \| Measurement Input, Interest Coverage Ratio
Debt Instrument [Line Items]
Debt instrument, measurement input		2.47
MSG Networks \| MSG Networks Credit Facilities \| Measurement Input, Default Rate
Debt Instrument [Line Items]
Debt instrument, interest rate, increase (decrease)	2%
MSG Networks \| MSG Networks Credit Facilities \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.225%
MSG Networks \| MSG Networks Credit Facilities \| Minimum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
MSG Networks \| MSG Networks Credit Facilities \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
MSG Networks \| MSG Networks Credit Facilities \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.30%
MSG Networks \| MSG Networks Credit Facilities \| Maximum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
MSG Networks \| MSG Networks Credit Facilities \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
MSG Networks \| Revolving Credit Facility \| MSG Networks Credit Facilities
Debt Instrument [Line Items]
Long-term debt, term	5 years
Principal		$ 0
MSG Networks \| Revolving Credit Facility \| MSG Networks Term Loan
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 35,000,000
Secured Debt
Debt Instrument [Line Items]
Face amount	1,100,000,000
Secured Debt \| MSG Networks
Debt Instrument [Line Items]
Basis spread on variable rate		7.46%
Revolving Credit Facility \| MSG Networks
Debt Instrument [Line Items]
Face amount	$ 250,000,000

Credit Facilities and Convert_5

Credit Facilities and Convertible Notes - LV Sphere - Narrative (Details) $ in Thousands	Dec. 22, 2022 USD ($)	Oct. 11, 2019 USD ($)	Dec. 31, 2023
LV Sphere \| Subsidiaries
Debt Instrument [Line Items]
Interest rate			9.83%
LV Sphere \| Minimum Liquidity Step-Down \| Subsidiaries
Debt Instrument [Line Items]
Debt instrument, covenant, held in cash	$ 25,000
LV Sphere \| Measurement Input, Historical Debt Service Coverage Ratio \| Subsidiaries
Debt Instrument [Line Items]
Debt instrument, measurement input			1.35
LV Sphere \| Measurement Input, Prospective Debt Service Coverage Ratio \| Subsidiaries
Debt Instrument [Line Items]
Debt instrument, measurement input			1.35
LV Sphere \| Minimum \| Minimum Liquidity Step-Down \| Subsidiaries
Debt Instrument [Line Items]
Debt covenant, minimum consolidated liquidity	$ 50,000
LV Sphere \| Minimum \| Measurement Input, Historical Debt Service Coverage Ratio \| Subsidiaries
Debt Instrument [Line Items]
Debt instrument, contingent measurement input	1.50
LV Sphere \| Minimum \| Measurement Input, Prospective Debt Service Coverage Ratio \| Subsidiaries
Debt Instrument [Line Items]
Debt instrument, contingent measurement input	1.50
LV Sphere \| Base Rate \| Subsidiaries
Debt Instrument [Line Items]
Basis spread on variable rate	3.375%
LV Sphere \| Secured Overnight Financing Rate (SOFR) \| Subsidiaries
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%	0.10%
Debt instrument, interest rate, increase (decrease)	4.375%
Secured Debt
Debt Instrument [Line Items]
Face amount		$ 1,100,000
Secured Debt \| LV Sphere \| Subsidiaries
Debt Instrument [Line Items]
Debt instrument term	5 years
Face amount	$ 275,000

Credit Facilities and Convert_6

Credit Facilities and Convertible Notes - Delayed Draw Term Loan Facility - Narrative (Details) - Delayed Draw Term Loan Facility - USD ($) shares in Thousands, $ in Thousands	Aug. 09, 2023	Apr. 20, 2023	Jul. 14, 2023
Sphere \| MSG Entertainment \| Common Class A
Line of Credit Facility [Line Items]
Debt conversion, converted instrument, shares issued (in shares)	1,923
Line of Credit \| Sphere \| Secured Debt \| MSG Entertainment Holdings
Line of Credit Facility [Line Items]
Loans receivable, maximum borrowing amount		$ 65,000
Unsecured Debt
Line of Credit Facility [Line Items]
Debt instrument term		18 months
Face amount			$ 65,000

Credit Facilities and Convert_7

Credit Facilities and Convertible Notes - 3.5% Senior Notes - Narrative (Details) $ / shares in Units, $ in Thousands	Dec. 08, 2023 USD ($) day $ / shares	Dec. 05, 2023 $ / shares
Common Class A
Line of Credit Facility [Line Items]
Option indexed to issuer's equity, cap price (in dollars per share)		$ 42.62
Debt instrument, convertible, conversion price premium on stock price		50%
Share price (in dollars per share)		$ 28.41
3.50% Convertible Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate	3.50%
Face amount \| $	$ 258,750
Purchases of capped calls in connection with senior notes \| $	$ 14,309
Debt instrument, convertible, conversion ratio	0.0281591
Debt instrument, convertible, conversion price (in dollars per share)	$ 35.51
3.50% Convertible Senior Notes \| Senior Notes \| Debt Conversion Terms One
Line of Credit Facility [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger	130%
Debt instrument, convertible, threshold trading days \| day	20
Debt instrument, convertible, threshold consecutive trading days \| day	30
Debt instrument, redemption price, percentage of principal amount redeemed	100%
3.50% Convertible Senior Notes \| Senior Notes \| Debt Conversion Terms Two \| Minimum
Line of Credit Facility [Line Items]
Debt instrument, convertible, conversion price (in dollars per share)	$ 28.41
3.50% Convertible Senior Notes \| Senior Notes \| Debt Conversion Terms Two \| Maximum
Line of Credit Facility [Line Items]
Debt instrument, convertible, conversion price (in dollars per share)	$ 280
3.50% Convertible Senior Notes \| Senior Notes \| Debt Conversion Terms Three
Line of Credit Facility [Line Items]
Debt instrument, redemption price, percentage	100%
3.50% Convertible Senior Notes \| Senior Notes \| Debt Conversion, Terms Four
Line of Credit Facility [Line Items]
Debt instrument, redemption price, percentage	100%
3.50% Convertible Senior Notes \| Senior Notes \| Debt Conversion, Terms Four \| Minimum
Line of Credit Facility [Line Items]
Debt instrument, aggregate principal amount of the notes percentage	25%

Credit Facilities and Convert_8

Credit Facilities and Convertible Notes - Schedule of Interest, Carrying Value, and Fair Value (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 08, 2023	Jun. 30, 2023
Line of Credit Facility [Line Items]
Unamortized deferred financing costs	$ 6,111			$ 6,363
MSG Networks, LV Sphere, Delayed Draw, 3.5% Senior Notes
Line of Credit Facility [Line Items]
Interest Payments	48,697	$ 24,468
Loan Principal Repayments	106,250	24,750
Total long-term debt, carrying value	1,417,634			1,207,250
Total long-term debt, fair value	1,458,949			1,199,839
MSG Networks Term Loan \| Debt
Line of Credit Facility [Line Items]
Carrying Value	891,000			932,250
Fair Value	886,545			927,589
MSG Networks Term Loan \| MSG Networks
Line of Credit Facility [Line Items]
Interest Payments	34,825	24,468
Loan Principal Repayments	41,250	24,750
LV Sphere \| Debt
Line of Credit Facility [Line Items]
Carrying Value	275,000			275,000
Fair Value	273,625			272,250
LV Sphere \| LV Sphere
Line of Credit Facility [Line Items]
Interest Payments	13,412	0
Loan Principal Repayments	0	0
Delayed Draw Term Loan Facility
Line of Credit Facility [Line Items]
Interest Payments	460	0
Loan Principal Repayments	65,000	$ 0
3.50% Convertible Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate			3.50%
3.50% Convertible Senior Notes \| Debt
Line of Credit Facility [Line Items]
Carrying Value	251,634			0
Fair Value	$ 298,779			$ 0

Pension Plans and Other Postr_3

Pension Plans and Other Postretirement Benefit Plan - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023 USD ($) plan	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) plan	Dec. 31, 2022 USD ($)	Apr. 19, 2023 plan
Defined Contribution Plan Disclosure [Line Items]
Defined benefit plan, number of contributory welfare plans \| plan					2
Defined benefit plan, number of sponsored plans \| plan	1		1
Deferred compensation arrangement with individual, compensation expense	$ 245	$ 160	$ 138	$ 6
Gain (loss) on remeasurement	245	160	138	6
Other Pension, Postretirement and Supplemental Plans
Defined Contribution Plan Disclosure [Line Items]
Defined benefit plan, plan assets, contributions by employer	$ 0	$ 0	$ 500	$ 500

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefit Plan - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Pension Plans and Postretirement Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 61	$ 123	$ 122	$ 246
Interest cost	429	1,189	868	2,378
Expected return on plan assets	79	(1,719)	(134)	(3,438)
Recognized actuarial loss (gain)	120	501	(104)	1,002
Net periodic benefit cost	689	94	752	188
Postretirement Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	5	15	10	30
Interest cost	17	19	34	38
Expected return on plan assets	0	0	0	0
Recognized actuarial loss (gain)	(17)	9	(34)	18
Net periodic benefit cost	$ 5	$ 43	$ 10	$ 86

Pension Plans and Other Postr_5

Pension Plans and Other Postretirement Benefit Plan - Schedule of Defined Contribution Plans (Details) - Savings Plan - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution Plan Disclosure [Line Items]
Total Savings Plan Expenses	$ 2,003	$ 2,742	$ 3,213	$ 5,307
Continuing Operations
Defined Contribution Plan Disclosure [Line Items]
Total Savings Plan Expenses	2,003	1,734	3,213	3,121
Discontinued Operations
Defined Contribution Plan Disclosure [Line Items]
Total Savings Plan Expenses	$ 0	$ 1,008	$ 0	$ 2,186

Pension Plans and Other Postr_6

Pension Plans and Other Postretirement Benefit Plan - Schedule of Deferred Compensation Plan Amounts Recognized On Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Retirement Benefits [Abstract]
Non-current assets (included in Other non-current assets)	$ 2,856	$ 1,087
Non-current liabilities (included in Other non-current liabilities)	$ (2,855)	$ (1,087)

Share-based Compensation, Restr

Share-based Compensation, Restricted Stock Units Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation capitalized in property and equipment			$ 1,574	$ 1,802
Payment, tax withholding, share-based payment arrangement			14,618	14,980
Performance Stock Units and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 12,072	$ 16,355	16,955	27,845
Vested in period, fair value	3,267	2,995	33,421	35,127
Share-based compensation capitalized in property and equipment			1,574	1,802
Payment, tax withholding, share-based payment arrangement	$ 459	$ 225	$ 14,435	$ 14,741

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2023 USD ($) plan shares	Dec. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans \| plan	3
Share-based compensation arrangement by share-based payment award, options, grants in period, gross (in shares)	3,344,000	0
Share-based compensation arrangement by share-based payment award, options, vested, number of shares (in shares)	0	0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	514,000	650,000
Awards vested (in shares)	630,000	546,000
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	404,000	566,000
Awards vested (in shares)	273,000	91,000
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares)	188,000	0
Share-based compensation arrangement by share-based payment award, accelerated vesting, number (in shares)	0	0
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost \| $	$ 93,115
Period for recognition	2 years 6 months 18 days

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, par or stated value per share (in shares)	$ 0.01	$ 0.01
Preferred stock, shares outstanding (in shares)	0	0
Common Class A
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchase program, authorized amount			$ 350,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	$ 2,635,888	$ 1,918,726	$ 2,583,865	$ 1,975,384
Other comprehensive income (loss), net of income taxes	4,669	12,418	(1,376)	(208)
Balance at the end of the period	2,465,164	2,018,920	2,465,164	2,018,920
Pension Plans and Postretirement Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(5,316)	(39,787)	(5,138)	(40,287)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	103	510	(138)	1,020
Income tax (expense) benefit	(27)	(176)	36	(186)
Other comprehensive income (loss), net of income taxes	76	334	(102)	834
Balance at the end of the period	(5,240)	(39,453)	(5,240)	(39,453)
Cumulative Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(5,667)	(21,194)	200	(8,068)
Other comprehensive income (loss) before reclassifications	6,199	14,803	(1,720)	(1,277)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Income tax (expense) benefit	(1,606)	(2,719)	446	235
Other comprehensive income (loss), net of income taxes	4,593	12,084	(1,274)	(1,042)
Balance at the end of the period	(1,074)	(9,110)	(1,074)	(9,110)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(10,983)	(60,981)	(4,938)	(48,355)
Other comprehensive income (loss) before reclassifications	6,199	14,803	(1,720)	(1,277)
Amounts reclassified from accumulated other comprehensive loss	103	510	(138)	1,020
Income tax (expense) benefit	(1,633)	(2,895)	482	49
Other comprehensive income (loss), net of income taxes	4,669	12,418	(1,376)	(208)
Balance at the end of the period	$ (6,314)	$ (48,563)	$ (6,314)	$ (48,563)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Capital expenditures incurred but not yet paid					$ 64,543	$ 38,127
Related Party
Related Party Transaction [Line Items]
Capital expenditures in connection with services provided			$ 2,374	$ 22,416	$ 8,042	$ 73,086
Capital expenditures incurred but not yet paid	$ 17,575	$ 13,412
Dolan Family Group
Related Party Transaction [Line Items]
Common stock exercisable term					60 days
605 LLC \| Audience Measurement And Data Analytics Services
Related Party Transaction [Line Items]
Miscellaneous expenses with related party					$ 1,000
Dolan Family Group
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent	72.10%		72.10%		72.10%
Dolan Family Group \| Common Class B
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent	100%		100%		100%
Dolan Family Group \| Common Class A
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent	5.60%		5.60%		5.60%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Transactions by Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Revenues	$ 314,157	$ 159,541	$ 432,164	$ 282,670
Operating expenses (credits):
Other gains			115,738	(7,885)
Restructuring charges	1,287	8,075	4,678	8,075
Related Party
Related Party Transaction [Line Items]
Revenues	1,657	0	2,047	0
Operating expenses (credits):
Operating loss	79,019	34,905	155,342	69,376
Direct operating expenses	47,459	44,859	93,537	89,107
Selling, general and administrative expenses	31,560	9,954	61,805	19,731
Related Party \| Media rights fees
Operating expenses (credits):
Other gains	44,485	43,433	88,670	86,200
Related Party \| Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement
Operating expenses (credits):
Restructuring charges			2,805
Related Party \| Origination, master control and technical services
Operating expenses (credits):
Other gains	1,257	1,232	2,514	2,464
Related Party \| Other operating expenses (credits), net
Operating expenses (credits):
Other gains	7,497	(285)	8,041	(296)
MSG Sports \| Cost reimbursement from MSG Sports - MSG Sports Services Agreement
Operating expenses (credits):
Other gains	0	(9,475)	0	(18,992)
MSG Entertainment \| Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement
Operating expenses (credits):
Other gains	$ 25,780	$ 0	$ 56,117	$ 0

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
Segment Information - Additional Information (Details)	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenues		$ 314,157	$ 159,541	$ 432,164	$ 282,670
Depreciation and amortization				(94,290)	(58,814)
Other gains				(115,738)	7,885
Restructuring charges		(1,287)	(8,075)	(4,678)	(8,075)
Other expense, net		(1,130)	(1,355)	41,066	(1,770)
Add back:
Share-based compensation				16,851	35,666
Depreciation and amortization				94,290	58,814
Restructuring charges		1,287	8,075	4,678	8,075
Other gains				115,738	(7,885)
Continuing Operations
Segment Reporting Information [Line Items]
Revenues	[1]	314,157	159,541	432,164	282,670
Direct operating expenses	[1]	(159,766)	(90,400)	(244,265)	(165,820)
Selling, general and administrative expenses	[1]	(115,520)	(104,415)	(202,664)	(199,046)
Depreciation and amortization		(80,031)	(7,386)	(94,290)	(13,519)
Impairment and other (losses) gains, net		(117,235)	1,000	(115,738)	3,000
Other gains			1,000		3,000
Restructuring charges		(1,287)	(8,075)	(4,678)	(8,075)
Operating (loss) income		(159,682)	(49,735)	(229,471)	(100,790)
Interest income		5,926	2,669	10,304	6,002
Interest expense		(25,828)	0	(25,828)	0
Other expense, net		(1,130)	(1,355)	41,066	(1,770)
Loss from continuing operations before income taxes		(180,714)	(48,421)	(203,929)	(96,558)
Reconciliation of operating (loss) income to adjusted operating (loss) income:
Operating (loss) income		(159,682)	(49,735)	(229,471)	(100,790)
Add back:
Share-based compensation		11,916	16,355	16,799	27,845
Depreciation and amortization		80,031	7,386	94,290	13,519
Restructuring charges		1,287	8,075	4,678	8,075
Impairment and other losses, net		117,235	(1,000)	115,738	(3,000)
Other gains			(1,000)		(3,000)
Merger and acquisition related costs, net of insurance recoveries		380	5,486	(8,663)	10,136
Amortization for capitalized cloud computing arrangement costs		22	127	44	248
Remeasurement of deferred compensation plan liabilities		245	154	138
Adjusted operating income		51,434	(13,152)	(6,447)	(43,967)
Other information:
Capital expenditures		47,401	279,679	231,972	541,145
Operating segments \| Sphere
Segment Reporting Information [Line Items]
Revenues		167,799	643	175,578	1,293
Operating segments \| Sphere \| Continuing Operations
Segment Reporting Information [Line Items]
Revenues		167,799	643	175,578	1,293
Direct operating expenses		(67,338)	0	(75,143)	0
Selling, general and administrative expenses		(97,804)	(74,759)	(181,954)	(151,950)
Depreciation and amortization		(78,044)	(5,749)	(90,421)	(10,264)
Impairment and other (losses) gains, net		(117,235)		(115,738)
Other gains			1,000		3,000
Restructuring charges		(1,287)	(4,087)	(4,678)	(4,087)
Operating (loss) income		(193,909)	(82,952)	(292,356)	(162,008)
Reconciliation of operating (loss) income to adjusted operating (loss) income:
Operating (loss) income		(193,909)	(82,952)	(292,356)	(162,008)
Add back:
Share-based compensation		10,985	13,056	14,904	22,842
Depreciation and amortization		78,044	5,749	90,421	10,264
Restructuring charges		1,287	4,087	4,678	4,087
Impairment and other losses, net		117,235		115,738
Other gains			(1,000)		(3,000)
Merger and acquisition related costs, net of insurance recoveries		200	(58)	(2,502)	2,691
Amortization for capitalized cloud computing arrangement costs		0	83	0	160
Remeasurement of deferred compensation plan liabilities		245	154	138
Adjusted operating income		14,087	(60,881)	(68,979)	(124,964)
Other information:
Capital expenditures		44,298	277,014	227,461	537,253
Operating segments \| MSG Networks
Segment Reporting Information [Line Items]
Revenues		146,358	158,898	256,586	281,377
Operating segments \| MSG Networks \| Continuing Operations
Segment Reporting Information [Line Items]
Revenues		146,358	158,898	256,586	281,377
Direct operating expenses		(92,428)	(90,400)	(169,122)	(165,820)
Selling, general and administrative expenses		(17,716)	(29,656)	(20,710)	(47,096)
Depreciation and amortization		(1,987)	(1,637)	(3,869)	(3,255)
Impairment and other (losses) gains, net		0		0
Other gains			0		0
Restructuring charges		0	(3,988)	0	(3,988)
Operating (loss) income		34,227	33,217	62,885	61,218
Reconciliation of operating (loss) income to adjusted operating (loss) income:
Operating (loss) income		34,227	33,217	62,885	61,218
Add back:
Share-based compensation		931	3,299	1,895	5,003
Depreciation and amortization		1,987	1,637	3,869	3,255
Restructuring charges		0	3,988	0	3,988
Impairment and other losses, net		0		0
Other gains			0		0
Merger and acquisition related costs, net of insurance recoveries		180	5,544	(6,161)	7,445
Amortization for capitalized cloud computing arrangement costs		22	44	44	88
Remeasurement of deferred compensation plan liabilities		0	0	0
Adjusted operating income		37,347	47,729	62,532	80,997
Other information:
Capital expenditures		$ 3,103	$ 2,665	$ 4,511	$ 3,892

[1]See Note 15. Related Party Transactions, for further information on related party revenues and expenses.

Segment Information - Schedul_2

Segment Information - Schedule of Concentration Risk (Details) - Customer Concentration Risk			3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable \| Customer A
Revenue, Major Customer [Line Items]
Concentration risk, percentage	13%	23%
Accounts Receivable \| Customer B
Revenue, Major Customer [Line Items]
Concentration risk, percentage	13%	22%
Accounts Receivable \| Customer C
Revenue, Major Customer [Line Items]
Concentration risk, percentage	10%	17%
Revenue Benchmark \| Customer 1
Revenue, Major Customer [Line Items]
Concentration risk, percentage			11%	24%	16%	27%
Revenue Benchmark \| Customer 2
Revenue, Major Customer [Line Items]
Concentration risk, percentage			11%	24%	16%	27%
Revenue Benchmark \| Customer 3
Revenue, Major Customer [Line Items]
Concentration risk, percentage			9%	19%	13%	22%

Additional Financial Informat_3

Additional Financial Information - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 614,549	$ 433,507
Restricted cash	13,278	$ 18,235
Total cash, cash equivalents and restricted cash	627,827		$ 429,114
Continuing Operations
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	614,549		131,965
Restricted cash	13,278		297,149
Total cash, cash equivalents and restricted cash	$ 627,827		$ 429,114

Additional Financial Informat_4

Additional Financial Information - Schedule of Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Additional Financial Information [Abstract]
Prepaid expenses	$ 21,201	$ 22,616
Note and other receivables	11,050	21,453
Inventory	894	0
Current deferred production content costs	9,772	6,524
Other	3,893	5,492
Total prepaid expenses and other current assets	$ 46,810	$ 56,085

Additional Financial Informat_5

Additional Financial Information - Schedule of Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Additional Financial Information [Abstract]
Accounts payable	$ 28,032	$ 39,654
Accrued payroll and employee related liabilities	61,316	75,579
Cash due to promoters	67,121	73,611
Capital expenditure accruals	164,247	236,593
Accrued legal fees	23,159	53,857
Other accrued expenses	48,028	36,437
Total accounts payable, accrued and other current liabilities	$ 391,903	$ 515,731

Additional Financial Informat_6

Additional Financial Information - Schedule of Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Additional Financial Information [Abstract]
Gain on litigation settlement	$ 0	$ 0	$ 62,647	$ 0
Realized loss on equity method investments	0	0	(19,027)	0
Other	(1,130)	(1,355)	(2,554)	(1,770)
Other (expense) income, net	$ (1,130)	$ (1,355)	$ 41,066	$ (1,770)

Additional Financial Informat_7

Additional Financial Information - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Additional Financial Information [Abstract]
Income taxes paid, net	$ 18,789	$ 4,075